Prayer Time

  |      |      |   The Message of Islam:

The Islamic Bank has varied objectives which it strives to achieve; paramount among them are the following:

Firstly:  It removes the restriction and difficulty on individuals and Islamic organizations by presenting an Islamic alternative of wealth investment instead of dealing in usury.

Secondly: It provides unique banking services and helps in socio-economic development in the Islamic community to upgrade living conditions in accordance with the fundamentals of the Sharia. This objective was detaildly outlined in the introduction of the Objectives of the Islamic Bank of Dubai, thus:  execution of all Banking services, trading and investment activities and to encourage and invest in manufacturing projects, construction and agricultural projects whilest keeping to the Sharia principles and avoiding usury in all its banking activities.

Thirdly: To create savings awareness among individuals, guide their spending behaviors and utilize idle capitals and invest them in economic arenas to increase their returns.

Fourthly: It encourages investment which is a fundamental objective of Banks. Investment is regarded as the central activity in banks and a main source of obtaining profits. This is achieved through adopting average and long term investment plans which gives birth to different economic projects. Again, it works towards expanding economic activities in the society and strengthening the framework of the economic structure.

Fifthly: It directs investment and centers it on production of goods so as to prevent the over circulation of wealth with low value of products.

Sixthly:  It supplies investment finances to all projects in various sectors such as the agricultural industry, manufacturing industry, education and Health sectors. It also eases workers to benefit from financial banking facilities.

Seventhly:  it creates new forms for financing such as Muraabaha ( income bond),  Mushaaraka( partnership), Mudaaraba( a kind of commercial activity where profits accrued are shared according to a predetermined ratio but loss borne by provider of capital) in a way that is congruent with the Islamic law and in accordance with modern (economic) diversities.

Eighthly: Creation of free economic system  and rejection of subordination to the economic systems of the non-Muslims by establishing Islamic Banks to regulate its own activities and expand the rate of international trade among Muslim countries without any foreign intermediaries.

Ninthly: launching of communal social services to revive the spirit of social integrity such as Zakah and sharing it according to the sharia limitations, and also by collecting gifts and donations and investing them in a way that is beneficial to the society.

Tenthly: giving counseling and consultancy to Islamic organization and individuals particularly on avenues of Islamic economical investments.

Eleventh:  embarking on studies and researches with regards to economic projects through the Islamic institute for researches and training which is under the Bank.

Twelfth: giving loans for productive projects and organization, and facilitating interest free loans for individuals.

Thirteen: eradication of unemployment and poverty and fighting monopolization which are propelled by interest based banks.

In conclusion, it may be said generally that, the objectives of investment in Islamic Banks are as follows:

1- Mutual cooperation of capital and work skills in economic development.

2- The investor receives a just and balance profit that befits the work role of his capital

3- Liberation of the individual from nthe egative tendency, which is a characteristic of an investor in an interest-based investment

4-Activation of development activities and economical advancement.


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