Saba Islamic Bank
Saba Islamic Bank (SIB) is a Yemeni joint stock company incorporated pursuant to the resolution of the Minister of Trade and Industry no. (25) of 25 June 1996 and the permit of the Central Bank of Yemen no. (311) issued on 2 April 1997.
The Bank commenced its activities officially on April 3rd 1997 as an Islamic financial institution with a wide shareholders’ base of up to 6400 shareholders from all sectors of the society.
The most important shareholders in Saba Bank is the Islamic Corporation for the Development of the Private Sector (ICD) whichis part of the Islamic Development Bank (IDB) Group as well as Dubai Islamic Bank. These two organizations have the largest shareholders in addition to local shareholders. The bank aims at accommodating banking and other financial services and trading activities in accordance with Islamic Shariah and under the supervision of the Sharia control Board. The Bank operates from its head office in Sana’a and its branches operating in Yemen and Djibouti.