{{Short description|Islamic bank in Dubai, United Arab Emirates}} {{Infobox company | name = Noor Bank | logo = | logo_size = | logo_alt = | logo_caption = | logo_padding = | image = | image_size = | image_alt = | image_caption = | trading_name = | native_name = | native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{lang|[code]|[name]}}. --> | romanized_name = | former_name = Noor Islamic Bank | type = Private | traded_as = | ISIN = | industry = Banking, Financial services | genre = | fate = | predecessor = <!-- or: | predecessors = --> | successor = <!-- or: | successors = --> | founded = 2008 | founder = <!-- or: | founders = --> | defunct = <!-- {{end date|YYYY|MM|DD}} --> | hq_location = | hq_location_city = Dubai | hq_location_country = United Arab Emirates | coordinates = | num_locations = | num_locations_year = <!-- Year of num_locations data (when known) --> | area_served = <!-- or: | areas_served = --> | key_people = {{unbulleted list|John Iossifidis (CEO)| Mahendra Gursahani (COO)}} | products = | brands = | production = | production_year = <!-- Year of production data (when known) --> | services = | revenue = | revenue_year = <!-- Year of revenue data (when known) --> | operating_income = | income_year = <!-- Year of operating_income data (when known) --> | net_income = <!-- or: | profit = --> | net_income_year = <!-- or: | profit_year = --><!-- Year of net_income/profit data (when known) --> | aum = <!-- Only for financial-service companies --> | assets = {{increase}}Dh50,719,198,000 | assets_year = 2018<ref name = NBDR>{{cite web|url=http://www.noorbank.com/content/2015_FS_for_Noor_Bank_Eng.pdf|title=Noor Bank Directors' Report|publisher=Noor Bank|date=31 December 2015|access-date=23 September 2016|archive-date=30 December 2017|archive-url=https://web.archive.org/web/20171230042645/http://www.noorbank.com/content/2015_FS_for_Noor_Bank_Eng.pdf|url-status=dead}}</ref> | equity = {{increase}}Dh6,010,827,000 | equity_year = 2018<ref name=NBDR/> | owner = <!-- or: | owners = --> | members = | members_year = <!-- Year of members data (when known) --> | num_employees = | num_employees_year = <!-- Year of num_employees data (when known) --> | parent = Noor Investment Group | divisions = | subsid = | slogan = <!-- or: | slogans = --> | module = <!-- Used to embed other templates --> | ratio = <!-- Basel III ratio, for BANKS ONLY --> | rating = <!-- credit rating, for BANKS ONLY --> | footnotes = | intl = <!-- Set positively ("true"/"yes"/etc) if company is international, otherwise omit --> | website = {{URL|http://www.noorbank.com/}} }}

'''Noor Bank''' (formerly Noor Islamic Bank) was established in January 2008, in Dubai, United Arab Emirates.

In 2018, the bank was ranked the 11th largest bank in the UAE in terms of asset size.

Noor Bank is a full-service Shari’a-compliant bank, offering a range of products and services - in corporate and personal banking, wealth management, Takaful (Islamic insurance), treasury and trading. It has presence across the country, at multiple locations in Abu Dhabi, Dubai, Sharjah and Al Ain.

==History==

Sheikh Mohammed bin Rashid Al Maktoum opened Noor Bank to the public on January 7, 2008.<ref name=HH>{{cite web|title=Mohammed Opens Dubai's Noor Islamic Bank|url=http://www.sheikhmohammed.co.ae/vgn-ext-templating/v/index.jsp?vgnextoid=bfc78156b9e47110VgnVCM1000007064a8c0RCRD&vgnextchannel=2777bc9e88caf210VgnVCM1000004d64a8c0RCRD&vgnextfmt=default&date=1199735860617&type=sheikh|accessdate=14 March 2013}}</ref> The bank's products and services are governed by a Shari’a Board, composed primarily of Islamic scholars from the fields of law and finance.<ref name=GN>{{cite web|last=Husain|first=Shakir|title=Two New Islamic Banks in '07|url=http://www.gulfnews.com/business/banking/two-new-islamic-banks-in-07-1.271347|work=Gulf News (UAE)|accessdate=14 March 2013}}</ref><ref name="DM">{{cite web|url=http://www.thedubaimall.com/en/shop/noor-islamic-bank|title=Noor Islamic Bank: Services, Banks & Financial Services|work=The Dubai Mall|accessdate=14 March 2013|archive-date=26 January 2013|archive-url=https://web.archive.org/web/20130126023628/http://www.thedubaimall.com/en/shop/noor-islamic-bank|url-status=dead}}</ref> Noor Bank is a subsidiary of Noor Investment Group LLC and a sister company of Noor Takaful.<ref name="PQ">{{cite web|url=http://www.thepeninsulaqatar.com/Display_news.asp?section=Business_News&subsection=market+news&month=November2006&file=Business_News200611277312.xml|title=Dubai-Based Investors Plan $1Bn Islamic Bank|work=The Peninsula (Qatar)|accessdate=14 March 2013}}</ref><ref name=Reuters>{{cite web|title=Noor Islamic May Spend $2 Bln on Single Buy|url=https://www.reuters.com/article/us-islamic-summit-noor-idUSL0582933120080205|publisher=Reuters|accessdate=14 March 2013}}</ref><ref name=ALB>{{cite web|title=Noor's Al Qemzi Named CEO of the Year- Best Islamic Bank at the CEO ME Awards 2010|url=http://www1.albawaba.com/news/noors-alqemzi-named-ceo-year-best-islamic-bank-ceo-me-awards-2010|work=Al Bawaba|accessdate=14 March 2013}}</ref>

In May 2008, the bank launched the first 24-hour, seven-days-a-week branch in the UAE.<ref name=Zawya>{{cite web|title=Noor Islamic Bank First in Middle East to Operate Round-The-Clock Branch|url=http://www.zawya.com/story/ZAWYA20080504082737/|work=Zawya|accessdate=14 March 2013}}</ref> In November 2008, the bank opened a 24/7 branch at the Dubai Airport.<ref name=AB>{{cite web|title=His Highness Sheikh Ahmed bin Saeed Al Maktoum Inaugurates Noor Islamic Bank’s Branch at Dubai Airport Terminal 3|url=http://new.arabianbusiness.com/press-release/?pressReleaseId=33261|work=Arabian Business|accessdate=14 March 2013}}{{Dead link|date=February 2026 |bot=InternetArchiveBot }}</ref> In February 2009, the bank was ranked in the top ten mandated lead arrangers list by Bloomberg.<ref name=KT>{{cite web|title=Noor Islamic Bank Emerges Top UAE Lead Arranger for 2008|url=http://www.khaleejtimes.com/darticlen.asp?xfile=data/business/2009/February/business_February261.xml&section=business|work=Khaleej Times|accessdate=14 March 2013}}</ref> That year, Noor Bank posted a net profit of US$139 million for the period ended December 31, 2008. After reporting an operating loss of US$2.5 million in the first half of 2010, the bank realized an operating profit of US$56.4 million by the second quarter of 2011.<ref name=ALB2>{{cite web|title=Noor Islamic Bank Posts AED 85 Million Net Profit for the Period Ending June 30th|url=http://www.albawaba.com/noor-islamic-bank-posts-aed-85-million-net-profit-period-ending-june-30th-384538|work=Albawaba Business|accessdate=14 March 2013}}</ref> Noor Bank partnered with Emaar Properties in 2013 to provide mortgages to non-UAE residents.<ref>{{cite web|url=https://www.thenationalnews.com/business/noor-to-offer-non-uae-resident-mortgages-for-emaar-s-property-projects-1.302151/|title=Noor to Offer Non-UAE Resident Mortgages for Emaar's Property Projects|publisher=The National|last=Hunger |first=Gregor Stuart|date= 4 June 2013|access-date=23 September 2016}}</ref>

In 2013, Noor Bank launched Noor Trade, a division of the bank directed at servicing small and medium enterprises (SMEs). Noor Trade is composed of two divisions, Business Banking and Emerging Corporates.<ref>{{cite web|url=http://gulfnews.com/business/sectors/banking/noor-trade-to-expand-its-network-and-double-its-team-this-year-1.1457134|title=Noor Trade To Expand its Network and Double its Team This Year |publisher=Gulf News Banking|first=Babu |last=Das Augustine |date=15 February 2015|access-date=23 September 2016}}</ref>

On 7 January 2014, the bank dropped 'Islamic' from its name, becoming 'Noor Bank' as part of a rebranding effort.<ref name=KT1>{{cite web|title=Noor Islamic rebranded to extend market reach|url=http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2014/January/uaebusiness_January84.xml&section=uaebusiness|work=Khaleej Times|accessdate=8 January 2014}}</ref><ref>{{cite web|url=https://www.thenationalnews.com/business/noor-bank-rebrands-and-mulls-ipo-1.310809/|title=Noor Bank Rebrands and Mulls an IPO|publisher=The National |last=Kane |first=Frank|date=7 January 2014|access-date=23 September 2016}}</ref> That same year, the bank reported that its income had tripled.<ref>{{cite web|url=https://www.thenationalnews.com/business/noor-bank-profit-triples-as-sharia-lender-rides-economic-recovery-1.464794/|title=Noor Bank Profit Triples as Sharia Lender Rides Economic Recovery|publisher=The National|last=Kassem |first=Mahmoud|date=31 March 2014|access-date=23 September 2016}}</ref>

As of 2016, Sheikh Ahmed Bin Mohammad Bin Rashid Al Maktoum is the bank's chairman, and the board of directors includes Sultan Ahmed bin Sulayem.<ref name=NIB>{{cite web|title=Board of Directors|url=http://www.noorbank.com/english/info/about-us/board-of-directors|publisher=Noor Bank|accessdate=23 September 2016|archive-date=18 July 2018|archive-url=https://web.archive.org/web/20180718065206/https://www.noorbank.com/english/info/about-us/board-of-directors|url-status=dead}}</ref>

Dubai Islamic Bank officially acquired Noor Islamic Bank under the name Dubai Islamic Bank in December 2019.<ref>{{cite web|access-date=2020-09-05 |archive-date=2019-11-28 |archive-url=https://web.archive.org/web/20191128182317/https://www.albayan.ae/economy/capital-markets/2019-11-26-1.3710767 |title=الموافقة على استحواذ «دبي الإسلامي» على «نور بنك» - الاقتصادي - أسواق المال - البيان |url=https://www.albayan.ae/economy/capital-markets/2019-11-26-1.3710767}}<!-- auto-translated from Arabic by Module:CS1 translator --></ref>

==References== {{reflist}}

{{Banks of the United Arab Emirates}} {{Authority control}} {{portalbar|Banks|United Arab Emirates|Business and economics}} Category:Banks established in 2008 Category:Islamic banks of the United Arab Emirates Category:Defunct banks of the United Arab Emirates