Sharjah Ruler opens Sharjah Islamic Bank's new headquarters

The opening of the new headquarters forms part of SIB's expansion strategy, which aims to meet the requirements of a growing market and further improve its retail and corporate banking services, thereby pushing wheel of national economic development forward.

The Sharjah Ruler cut the ribbon to announce the official opening of the new headquarters, and toured the building, accompanied by H.H. Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of Sharjah and SIB Chairman; H.E. Sultan Bin Nasser Al Suwaidi, Governor of the UAE Central Bank; H.E. Ahmed Humaid Al Tayer, the Governor of the Dubai International Financial Centre (DIFC); H.E. Abdul Rahman Mohammad Al Owais, UAE Minister of Culture, Youth and Community Development; and H.E. Bader Al-Mukhaizeem, Chairman of Kuwait Finance House, as well as a number of dignitaries and VIP guests.

In a meeting held with SIB's chairman and members of the boards on the sidelines of the opening ceremony, H.H. Sheikh Dr Sultan bin Mohammed Al Qassimi expressed his best wishes for the success of the bank in achieving its goals of serving the Islamic banking sector and boosting the role of this sector in social development through a host of high-quality services and activities.

H.H. Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of Sharjah, praised the modern facilities and technologies provided in the new headquarters, which will contribute significantly to further improving the performance of Islamic banking in the country and providing clients with cost-effective services.

He added that the modernization process in the bank will not be limited to the opening of a new headquarters, but will also include the introduction of a host of high-quality Islamic banking services that will benefit the bank's clients.

The opening of the new headquarters is in line with the growth requirements of the Islamic banking sector in the UAE and the region, as well as with the changes that SIB is going through to cater to these demands. The bank's strategic plans are aimed at expanding its operations to offer new banking services and provide high-quality banking products to a wide range of both domestic and international clients.

Overlooking Khan Cornish, the new SIB headquarters comprises 30 floors with a total cost of Dhs300m, nine of which have been designated for the operation of the headquarters and for management offices, while floors 10 to 28 have been designated as a luxury residential compound.

Speaking at the opening, H.E. Mohammed Abdullah, CEO of Sharjah Islamic Bank, said:

"We are very proud to open the new SIB headquarters, as this event confirms the bank's strong financial situation and our commitment to adhering to our set strategies, which aim to promote the economic and architectural development of the emirate of Sharjah and the UAE, even during the financial crisis, which halted numerous development projects."

"The opening serves as proof of our constant efforts to develop our services and financial products to meet the highest international standards in a manner that guarantees accessibility to all our clients in a modern fashion and according to the latest available technologies. This event also proves our willingness to play a vital role in positioning the UAE at the forefront of the international banking sector, with the support of our wise leadership and SIB Chairman and members, whose efforts are the great inspiration that pushes us to achieve our goals and aspirations," he added.