Banks in Dubai

One of the things that stands out when it comes to Dubai is the banking system. Since the economy has expanded very fast, there are enough banks in the region that you can join. Whether you plan on opening a personal account or a business account with these banks, Dubai has enough options for everyone.

banks in dubai provided by gostartbusiness

However, the one thing you will realize is the amount of paperwork you will have when you choose to open an account with Dubai. First things first, you’ll need to settle on the bank you wish to be a member of. Since there are so many, you might find yourself being spoilt for choice.

Knowing your options or banking needs, on the other hand, will help you narrow down on a chosen bank. Here are some helpful pointers on the banks in Dubai.

European Banks in Dubai

Dubai has been known as a metropolis when it comes to business matters for a while now. Even the banking center has been expanded to enable experts and visitors in the region to access banking services without an issue. By understanding your needs and options available, you can bank with an international bank whose terms of operation you already know. Here are some of the European banks that have opened branches in Dubai.


HSBC Bank Logo

HSBC (open a new window) is one of the renowned banks in Dubai and is recognized internationally for being a prestigious bank. By opening up a spot in Dubai, it expanded its horizons into the heart of the business sector there.

You get a variety of services offered when you bank with HSBC. Top of the list on the perks of banking with them is access to a savings account, a deposit account, mortgages, and credit financing. If you are from Britain, banking with HSBC in Dubai will be similar to banking in Britain which adds to its appeal. It’s like you never left home.

Standard Chartered Bank

Standard Chartered Bank Logo

Another international bank in Dubai is the Standard Chartered Bank (open a new window). It has opened up in so many regions and is recognizable worldwide. The bank started as “Standard of Bank British South Africa and Chartered Bank of India, Australia, and China.” Over the years, however, it has grown to become an internationally recognized bank that offers services to people in most countries around the world.

When compared to other foreign banks in Dubai, it has the most efficient and well-planned banking system. If you are looking for a bank that will deliver on its promise, you should definitely check out Standard Chartered bank.

Banque Banoriet France to the Rescue

Another European Bank that you should check out is Banque Banoriet France. The bank was started in France and had had different branches opened globally. It offers corporate banking, retail banking, as well as asset management, and private banking. All the features make it a good banking option for anyone who might be in the UAE for a short while and would love a bank they can rely on.

Credit Agricole Corporate and Investment Bank

Credit Agricole Corporate and Investment Bank (open a new window) is a European bank in Dubai that offers a variety of banking solutions like client coverage, global investment banking, Islamic banking, Debt optimization, and distribution and global markets. People looking for a bank that has various banking options should definitely check this one out.

Societe Generale Group (Private Banking)

The main services offered by Societe Generale are corporate banking and investment options. If you want to start a business in UAE, then they are your go-to banking option. Sometimes, it is preferable to bank with an institution that specializes in a particular service. For corporate financial matters in Dubai, you will want to give this one a try.

Credit Cruisse

Another European bank that has found a home in Dubai is Credit Cruisse (open a new window). It offers private and investment banking options for whoever needs it. It has won several awards in the area, which shows just how well it is structured out. The customer service is also great.

Union Bancaire Privee

If you want a personalized approach to banking, then this is definitely an option for you. The banking options are catered for both private and corporate bodies. Their experienced workforce will ensure that your assets and finances are well cared for.

While this list is not exhaustive, it goes to show just how many European banks are in UAE. If you have been thinking of banking in the UAE and you want a bank that reminds you of home, then these are some of the banks you can look out for. With them, you know that your money is safe and you can access it from your home country or when you travel overseas.

Best bank in Dubai for expats

If you are looking for a bank as an expat in Dubai, look no more. With this comprehensive list, you can get a bank that will serve you and your needs while you are in Dubai.

  • National Bank of Abu Dhabi
  • First Gulf Bank
  • Abu Dhabi Commercial Bank
  • Emirates NBD
  • Abu Dhabi Islamic Bank
  • Union National Bank
  • National Bank of Ras Al-Khaimah
  • Dubai Islamic Bank
  • Commercial Bank of Dubai
  • National Bank of Fujairah

While these are not the only banking options for you in Dubai, they are the top ones recommended for expats. They might not all be founded in Dubai, but they open up their doors to anyone who might need to get a bank that works for them.

How can I open a bank account in Dubai?

If you are planning on moving to the United Arab Emirates, then opening up a bank account in the area would help with this relocation. The first thing you need to do is figure out if the bank you are choosing to work with will let you, as a foreigner, open an account with them.

Once you do that, figure out what their requirements are, such as minimum balance and eligibility to certain types of accounts. It will also be helpful to know if you get a card and cheque as soon as you open the account. All these features are what will determine whether you will be content with the account you open or if you might change your mind along the way.

If you are planning on staying in the UAE as a resident, there are several requirements for you to open a bank account.

Here are the main ones:

  • your passport
  • copies of your passport photos
  • a no-objection letter from your employer or the person sponsoring your visa
  • your visa
  • some banks ask for a letter of recommendation from other banks
  • proof that you plan on staying in the UAE for a while

While these are the requirements for one who is planning on staying in Dubai for a while, there are other requirements if you are in the country temporarily.

These will mostly include:

  • copy of your passport and include the copy of the UAE entrance page
  • original copy of a reference letter from a renowned bank that you originally banked with, an updated resume
  • original copy of your bank statement for the previous six months

The one thing you need to keep in mind about owning a UAE bank account as a non-resident is Emirati banks needs you to have a monthly average balance of USD 100,000. It might seem like it is on the higher side, but the Emirati banks had to be structured when it came to account-opening and operations for nonresidents.

The final thing you need to remember is, for most banks, you have to be there in person if you need to open an account.

This may interest you too: United Arab Emirates-Business in UAE

Best investment banks in Dubai

While many people might want to look at banking in Dubai from a private bank account perspective, there is more to it than meets the eye. One who is planning on staying in Dubai for a long time and has a good-paying job could also consider getting an investment account.

With the active economy that Dubai has, you can make some good money through such bank accounts. If you are stuck on which banks to go to when you want to get into investing while in Dubai, here is a list that will come in handy:

  • HSBC Financial Services
  • Emirates Investment Banks
  • Noor Capital
  • Allied Investment Partners
  • SHUUAA Capital
  • Morgan Stanley Co International
  • Rasmala
  • EnTrustPermal Investment Management Services Limited
  • Palma Capital Limited
  • Wealthface

Once you have narrowed down on the banks, you can invest with, visit them and figure out what their return on investment (ROI) is and if they have an investment policy. It will go a long way to ensure that whatever investment you make; will bring back good returns for you.

Dubai Bank Name List

Dubai has about 22 international banks and 30 local banks. The figures go to show you just how much potential the entire banking system has. If you are stuck on which one to choose, this list of banks will go a long way to ensure that you can bank in peace.

Bank List Dubai

  1. HSBC Bank Middle East Limited
  2. Standard Chartered Bank
  3. Emirates NBD Bank P.J.S.C
  4. CitiBank N.A.
  5. Mashreq Bank P.S.C.
  6. Habib Bank Ltd.
  7. United Bank Ltd.
  8. Bank Saderat Iran
  9. Commercial Bank of Dubai P.J.S.C
  10. Al Ahli Bank of Kuwait
  11. Bank Melli Iran
  12. Arab African International Bank
  13. Banque Misr
  14. Al Khaliji (France) S. A.
  15. Natwest Markets Plc
  16. Bank of Baroda
  17. Habib Bank A.G Zurich
  18. Banque Banorient France
  19. Dubai Islamic Bank P.J.S.C
  20. Credit Agricole-Corporate and Investment Bank
  21. Emirates Islamic Bank P.J.S.C.
  22. Emirates Investment Bank (PJSC)
  23. Commercial Bank International PLC
  24. Dubai Bank
  25. Doha Bank
  26. The Saudi National Bank
  27. National Bank of Kuwait
  28. Barclays Bank PLC
  29. MCB Bank Limited
  30. Agricultural Bank of China Ltd.
  31. Bank Al Falah Limited
  32. Zand Bank P.J.S.C

Bank List Abu Dhabi

  1. Arab Bank PLC
  2. BNP Paribas
  3. Rafidain Bank
  4. Janata Bank Limited
  5. Arab Bank for Inv.& Foreign Trade
  6. El Nilein Bank
  7. National Bank of Oman S.A.O.G.
  8. National Bank of Bahrain
  9. Abu Dhabi Commercial Bank P.J.S.C
  10. Abu Dhabi Islamic Bank P.J.S.C
  11. Deutsche Bank AG
  12. KEB Hana Bank
  13. Bank of China Limited
  14. Gulf International Bank
  15. Intesa Sanpaolo S.P.A
  16. BOK International Bank
  17. WIO Bank P.J.S.C
  18. First Abu Dhabi Bank P.J.S.C
  19. Al Maryah Community Bank L.L.C.
  20. Industrial & Commercial Bank of China
  21. Al Hilal Bank P.J.S.C

Bank List Sharjah

  1. Bank of Sharjah P.J.S.C
  2. Sharjah Islamic Bank P.J.S.C.
  3. United Arab Bank P.J.S.C
  4. InvestBank PLC

While this list has tried to exhaust all the banking options in Dubai, there are still a couple more that might not have made it to the list. Knowing about the naming options you have will help you choose a bank you believe you can work with. You can also ask around from financial advisors which bank will serve your needs best.

Other Banks

  • National Bank of R.A.K P.J.S.C in R.A.K
  • National Bank of U.A.Q PSC in U.A.Q
  • National Bank of Fujairah PSC in Fujairah
  • Ajman Bank P.J.S.C in Ajman

Investment banking companies in Dubai

With its vibrant economy, it is no surprise that many people come to this place to invest their money and watch it grow. The region is known as the fastest-growing area in the United Arabs Emirates. The one thing you will need to do to ensure that your money grows is to ensure you sign up with an investment bank. They allow you to make better financial gains with the money that you have. The investment banks are as listed above under the topic investment banks in Dubai.

The other thing you need to do when you are figuring out which investment bank you should choose is to look at the minimum amount of money you are allowed to invest. It is also vital for you to find out whether the investment bank will let you invest if you are a non-resident, all these might seem like small things, but they will greatly determine how much interest your money will earn you in the long run.

Wrapping it Up

Banking in Dubai has been made easier for both residents and expats. If you plan on staying in Dubai, you do not have to worry about how you will be using or saving money. The majority of banks will let you bank with them as long as you meet the criteria. Go through the options available to you and consult with your employer or financial advisor before you settle on a bank. These details are what will go a long way to ensure that you have a great banking experience.

If you bank with an international bank, it can also help if you find out whether they operate in Dubai or not. That way, your transition into the banking market in Dubai will be smooth and have little to no hitches.

Was this helpful?
Steven Author of gostartbusiness

The Author

Got feedback, questions, or noticed something we overlooked? Share your thoughts in the comments—we're keen to learn and improve!

Leave a Comment

Work, Invest, and Retire in Mauritius