The bank was launched in September 2002 and transformed into Shari’a-compliant financial institution with on 1 January 2007.

On 1 December 2012 the bank was acquired by Emirates NBD.

[1][2][3] The bank increased its capital to AED 1.50 Billion in 2007 and was on an expansion spree, and as of March 2008[update] had total assets of AED 14.4 billion.

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