IslamicFinance.de

Some of the major Islamic banks are now planning to drop the word “Islam” from their names. In January, Dubai-based Noor Islamic Bank changed its name to Noor Bank. Abu Dhabi Islamic Bank (ADIB) plans to call itself Abu Dhabi International Bank when operating abroad. In both cases, the changes are part of the banks’ plans to expand. They aim to move well beyond a relatively small group of customers who stress religious permissibility, to a much larger customer base for whom pricing and service quality are key. This approach could help Islamic banks establish themselves globally and appeal to larger numbers of non-Muslims as well as Muslims.