Sharjah Islamic Bank (SIB)
Sector: Banks & Financial Services
Date of Establishment: 1975
Market Value: $1.1 billion
SIB was initially founded as the National Bank of Sharjah and converted to Islamic banking in 2002. In 2020, it reported an increase of 15.5% in total assets compared to 2019, but a decrease of 25.6% in net profits. SIB launched a community initiative in Ramadan that distributed 4,000 food baskets for families in need, among other initiatives. Mohammed Abdullah has been CEO of SIB since January 2007.