It is good to have a local bank account in Dubai. Most employers will expect you to have one in order to pay you. In the absence of one it is very difficult to secure long term accomodation and so on.

A Savings Account can be opened without a residency visa. You will get an ATM card but no cheque book.

The Current Account enables the holder to apply for a cheque book, credit card and personal loan. You must have residency visa to open this type of account.

It is illegal to write a cheque if you do not have sufficient funds in your account. Bounced cheques are a criminal offence. In the event that a cheque bounces, the holder of the dishounored cheque can report it to the police

Islamic finance options are now available in most banks in Dubai as this is currently growing around the world. There is no real difference between Islamic finance and conventional banking other than Islamic finance applies sharia principles.

E.g: Investment in industries relating to alcohol, gambling, tobacco, weapons or pornography is prohibited.

Sharia law does not allow interest to be charged and all profits must be shared.

You do not have to be a Muslim to get Islamic finance and officially Islamic finance does not provide loans,

it provides personal finance facilities.

Bank Accounts