ICD projects

Saba Islamic Bank

YEMEN 1426 / 2005
  • Mode Of Finance: Equity
  • ICD contribution: 10,000,000
Saba Islamic Bank

The Saba Islamic Bank was established as a Limited Joint- Stock Company under the decision of the Minister of Trade and Financing in 1996 and a license was issued by the Central Bank in 1997. It officially started its activities on 3rd April 1997 as an economic tower and with a huge shareholders' base with up to 7500 shareholders from all classes of society. Saba Islamic Bank's main activity is Islamic banking operations both inside and outside Yemen. It works through its main office located in Sana'a; and there are 15 branches of which (14 branches are in Yemen and another one in Djibouti). All the bank's branches have a female section. The bank has also obtained an Honor Associate ship Certificate from the European Assembly for Marketing and Development; and has become the first and only Yemeni Islamic bank enjoying an international status and is recognized by the International Financing Community (IFC).