Saba Islamic Bank (SIB) is a Yemeni closed joint-stock company established following the ministerial Resolution of 1996. It was licensed by the Central Bank of Yemen in 1997, April 2nd, permit no. 311.
Backed by a large ownership structure composed of more than 6400 shareholders, the bank officially launched operations on April 3rd, 1997. The Bank’s major shareholders are the Islamic Corporation for the Development of the Private Sector (ICD) and Dubai Islamic Bank (DIB) in addition to local investors.
The bank provides banking and financial services in compliance with sharia principles approved and audited by the Sharia Board. Saba Islamic bank is headquartered in Sana’a and has a branch network over Yemen.