Sharjah Islamic Bank to Distribute 8% Cash Dividends Amidst COVID-19 Pandemic

Sharjah Islamic Bank (SIB) announced its plans of distributing 8% cash dividends to shareholders at its 45th General Assembly held on the 20th of February 2021. This is made possible by SIB’s reported net profit of AED 405.8 million for the year 2020 under turbulent economic conditions, amidst the COVID-19 pandemic.

Why it matters?

According to Abdul Rahman Al Owais, Chairman of the Board of Directors, SIB plays a vital role in the economy of the United Arab Emirates (UAE). With the country providing a stable banking sector, Owais expects continuous improvement of SIB in 2021.

SIB expressed its plans to continue investing in a strong digital presence by further developing its services based on technology to deliver enha...