The Dubai Islamic Bank (DIB) is to launch the region’s first Arabic language Mobile banking service. The service will provide 36 features and will allow users the freedom to manage their bank accounts with their mobile phones.
The 24 hour service operates on the basis of push and pull interaction between the bank and the customer. The bank sends information about account activity to the customer’s mobile phone in the form of an SMS, the customer can request a certain number of services about his account activity by sending an SMS message and then the bank will reply. The service includes features such as statement by fax, current exchange rates, account debit alert, salary credit notification, account balance, last five transactions, Visa card billing information, and special promotional offers.
The economic and business philosophy of Islam encourages generation and sharing of profits. However, it forbids giving or taking of interest. Dubai Islamic Bank is the first Islamic bank in the world to practically implement this concept.
Established in 1975, DIB is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. It was founded with active assistance of the United Arab Emirates (UAE) Government, the Central Bank and people of the UAE. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
