Islamic banking is an ethical and equitable mode of financial services that derives its principles from Shari'a (Islamic law). Shari'a is based on the Holy Qur'an and the Sunnah of the Prophet Muhammad (P.B.U.H), and it governs all aspects of personal and collective life.
The Islamic banking industry today stands at several hundred billion dollars (estimates vary), and consists of more than 300 financial institutions in and outside the Muslim world. It is the product of the collective effort of bankers, economists, and Islamic legal scholars over the past several decades to develop financial solutions that meet the religious requirements of Muslims.
Commercial Bank of Dubai Islamic Banking Department, known as CBD Al Islami, was established in 2007 and is dedicated to developing and launching viable Shari'a compliant products and services to existing and future clients of CBD.
CBD Al Islami consists of:
- Shari'a Consultant
- Shari'a Board
- Product Development & Marketing
- System & Operations