Branches of Iranian banks in Dubai are a bridge between the financial system of Iran and the United Arab Emirates. These branches help facilitate the financial affairs of Iranians in Dubai by providing various banking services, such as opening an account, paying bills, transferring money, and remittance. Iranian businessmen and tourists in Dubai can easily access the banking services they need by identifying Iranian banks.
Due to the US sanctions against Iran, the number of Iranian banks active in Dubai is limited to Saderat and National banks. However, these two banks also offer a wide range of services to their customers.
The services of Iranian banks in Dubai, a response to the financial needs of Iranians
Iranian banks in Dubai, by providing a wide range of banking services, respond to the financial needs of Iranians and other citizens of Dubai. These services include the following:
- Account opening including current accounts, savings accounts and investment accounts
- Providing credit and debit cards with various benefits
- Domestic and international money transfer services
- Various investment services
- Insurance services
- Currency remittance
- Foreign Exchange
- Providing electronic banking services
- Interaction with international banks
- Attracting interests and directing them towards Iran
- Providing projects for Iranians living in Dubai
- Various banking facilities
- Cash receipt service
Export Bank of Iran in Dubai
Saderat Bank of Iran, with more than 90 years of history, is one of the largest and oldest banks in Iran. This bank, with more than 2500 branches all over Iran and the world, offers various banking services to its customers.
Bank Saderat Iran was the first Iranian bank to open a branch in the United Arab Emirates in 1349. This branch, in the city of Dubai, as a symbol of economic and financial relations between Iran and the UAE, has played an important role in the development of cooperation between the two countries. Bank Saderat Iran in Dubai offers various banking services to Iranian and non-Iranian customers.
Saderat Bank of Iran has played an important role in facilitating financial and commercial relations between Iran and the UAE by providing high-quality and efficient banking services. By continuing its activities in Dubai, this bank has become the pioneer of financial relations between Iran and the UAE.
Bank Saderat Iran branches in Dubai
Saderat Bank of Iran has an active presence in the United Arab Emirates with four branches in Dubai. These branches are located in different areas of Dubai and provide various banking services to Iranian and non-Iranian customers.
The addresses of Iran Export Bank branches in Dubai are as follows:
Commercial branch
- Address: Commercial Zone, Commercial Zone 1, Sheikh Zayed Street, Al Manar Tower
- Phone number: 3311187 (+9714)
- Email address: [email protected]
Al-Mankhul branch
- Address: Khalid Bin Walid St
- Phone number: 3511110 (+9714)
- Email address: [email protected]
main branch
- Address: Al-Riga, Deira
- Phone number: (+9714) 7-2221161, 2281824
- Email address: [email protected]
Elavis branch
- Address: Elavis Commercial Tower, Office 406
- Email address: [email protected]
Objectives of reactivating Bank Saderat branch in Dubai
The purpose of reactivating Saderat Bank branch in Dubai is the following three things:
- Dubai Export Bank, by interacting with international banks, can help facilitate financial and commercial relations between Iran and the UAE.
- This branch, by providing various banking services, can help attract the economic interests of Iranians in Dubai.
- By providing services such as account opening, money transfer, and currency remittance, Sadarat Bank of Dubai can help facilitate the financial affairs of Iranians living in Dubai.
- Considering that many Iranians in Dubai are looking to buy a house and stay in this city, the re-opening of Sadaret Bank branch in Dubai can help to facilitate the purchase of a house and stay for these people.
Various services of Sadaret Bank in Dubai
Saderat Bank services in Dubai include:
Foreign exchange and international services
Sadarat Bank in Dubai offers various services in the field of foreign exchange and international affairs. These services include currency remittance, currency buying and selling, currency electronic banking services, and other services related to currency and international affairs.
Bank facilities
Saderat Bank in Dubai offers various banking facilities to its customers. These facilities include personal loans, commercial loans, guarantees, and other bank facilities.
Card services
Saderat Bank in Dubai offers various card services to its customers. These services include credit cards, debit cards, and electronic bank cards.
Some of Sadaret Bank's special services in Dubai include:
The activity of export acceleration cards in Dubai
Saderat Bank of Iran, in order to facilitate the financial affairs of Iranians living in Dubai, made it possible to make payments to Shatab card holders in this city. Using this option, Iranians living in Dubai can use their bank cards to pay their daily expenses in Dubai without the need to convert currency.
Receive dirhams with electronic bank cards
People who have an electronic bank card can receive dirhams by visiting Sadaret Bank branch in Dubai. This possibility is very useful for Iranians living in Dubai who need dirhams.
National Bank of Iran in Dubai
National Bank of Iran, the largest and oldest bank in Iran, was established in 1307. This bank has played an important role in the development of Iran's economy. This bank started its activity with two branches in Tehran and Bushehr. Tehran, the capital of Iran and its political and economic center, and Bushehr, one of Iran's leading commercial ports, were two important points for starting banking activities.
In 1948, the National Bank of Iran took an important step towards globalization by establishing its first representative office abroad. This agency was established in the city of Hamburg, Germany, in order to facilitate the commercial affairs of Iran and Germany.
National Bank of Iran has established many branches throughout Iran and the world. This bank is now one of the largest banks in the Middle East, with more than 2,500 branches worldwide.
This bank has an active presence in the United Arab Emirates, with two branches in Dubai. These branches offer various banking services to Iranian and non-Iranian customers.
Address of Melli Bank branches in Dubai
main branch
- Address: Banias Street, Deira. (Baniyas Street, Deira, Dubai, UAE, PO Box: 1894)
- Email address: [email protected]
- Phone number: (+9714)42015190
Al-Mankhul
- Address: Khalid Bin Waleed Street, PO Box: 3093, Bur Dubai-UAE
- Email address: [email protected]
- Phone number: (+9714)3051100
Al-Qasmia
- Address: Al Qasimia, Abdul Aziz Street, Sharjah, UAEPO Box: 459.
- Email address: [email protected]
- Phone number: (+9716) 5981188
Melli Bank services in Dubai
National Bank of Iran branches in Dubai provide various banking services to Iranian and non-Iranian customers. These services include:
- Automatic teller machine (ATM): National Bank of Iran's ATMs in Dubai allow the bank's customers to access the currency of Dubai, the dirham.
- Currency remittance: National Bank of Iran customers can send currency remittances from Iran to Dubai through the branches of this bank in Dubai.
- Receiving cash: National Bank of Iran customers can receive cash in dirhams through the branches of this bank in Dubai.
These services are very useful for Iranian tourists and Iranians living in Dubai. Iranian tourists can easily receive dirhams and be safe from the dangers of carrying cash by using ATM machines of the National Bank of Iran in Dubai.
Advantages and disadvantages of using the services of Iranian banks in Dubai
Iranian banks in Dubai provide various banking services to Iranian and non-Iranian customers. These services have advantages and disadvantages.
Advantages:
- Access to banking services in Farsi: For many Iranians living in Dubai, access to banking services in Farsi is an important advantage.
- The possibility of using Iranian bank cards in Dubai: by using Iranian bank cards in Dubai, you can use the ATMs of Iranian banks in Dubai or benefit from the services of Iranian bank cards in shops and commercial centers in Dubai.
- Reduction of international money transfer costs: International money transfer costs from Iran to Dubai, using the services of Iranian banks in Dubai, are lower than other methods, such as money transfers through exchanges.
Disadvantages
- Restrictions due to American sanctions: American sanctions have created restrictions for the activities of Iranian banks in Dubai. These restrictions may affect the services provided by these banks.
- Higher fees than UAE banks: Banking services provided by Iranian banks in Dubai are usually more expensive than banking services provided by UAE banks.
Finally, the choice of which bank to use depends on the needs and circumstances of each person. If it is important for you to have access to banking services in Farsi, the possibility of using Iranian bank cards in Dubai and reducing international money transfer costs, using the services of Iranian banks in Dubai can be a suitable option. However, you should note that these services may come with limitations and have higher costs than UAE banks.
Challenges of Iranian banks in Dubai
Iranian banks in Dubai have many opportunities for growth and development. These banks can provide services to Iranian and non-Iranian customers in Dubai by providing diverse and high-quality banking services.
However, Iranian banks in Dubai also face challenges. Among these challenges, the following can be mentioned:
- Competition with foreign banks: foreign banks, experienced and with longer experience in global markets, have more financial and human resources at their disposal and can provide more diverse services to their customers.
- Compliance with the strict banking laws of the United Arab Emirates: Iranian banks in Dubai must comply with the strict laws and regulations of the United Arab Emirates. These laws and regulations can create challenges for Iranian banks.
- Cultural differences: Cultural differences between Iran and the United Arab Emirates can create challenges for Iranian banks. These banks should try to get to know these differences and find solutions to solve them.
Iranian banks in Dubai must adopt appropriate strategies to overcome the challenges ahead. Some of these strategies are:
- Increasing cooperation with Dubai's own banks and international banks: In order to succeed in the Dubai market, Iranian banks should pay attention to developing cooperation with local and international banks. This cooperation can lead to benefits such as benefiting from the experience and knowledge of local and international banks, the compatibility of banking services and products with the needs of Dubai customers and increasing the market share.
- Focus on providing quality services and products: Iranian banks should pay special attention to the quality of their services and products. These banks should try to provide services and products that meet the needs and expectations of customers.
- Brand strengthening and advertising: Iranian banks should try to strengthen their brand in Dubai. These banks should increase the awareness of Dubai customers about their services and products with appropriate advertising and information.
- Use of new technologies: Iranian banks should use new technologies to provide services to their customers. These technologies can help Iranian banks to provide their services more efficiently and cost-effectively.
By adopting appropriate strategies, Iranian banks can overcome the challenges ahead and continue their growth and development.
The future of Iranian banks in Dubai
Iranian banks in Dubai, despite the challenges, also have many opportunities for growth and development. These banks can provide services to Iranian and non-Iranian customers in Dubai by providing diverse and high-quality banking services.
As one of the economic and commercial centers of the world, Dubai hosts millions of tourists and investors from all over the world, including Iran. This city is also one of the most important investment destinations for Iranians.
Iranian banks, due to their long history in providing Islamic banking services, can be present in this booming market. These banks can provide services to their Iranian and foreign customers in Dubai by providing a wide range of Islamic banking services, such as partnership contracts, exchange contracts and trade contracts.
In the field of trade, Iranian banks can help facilitate trade between Iran and the United Arab Emirates by providing various banking services. These services include foreign exchange services, money transfer, remittance and business facilities.
In the field of investment, Iranian banks can help Iranians to invest in the United Arab Emirates by providing consulting and financial services. These services include risk assessment services, risk management and financing of investment projects.
In the field of tourism, Iranian banks can help facilitate the travel of Iranians to the United Arab Emirates by providing foreign exchange services, credit cards and digital banking services for those who have prepared a tour to Dubai.
Iranian banks in Dubai, by taking advantage of the opportunities available in this city and providing diverse and high-quality services, can play a key role in the development of economic and commercial relations between Iran and the United Arab Emirates.
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