Question 1

What is Bank of Sharjah?

Accepted Answer

Bank of Sharjah is a publicly listed commercial bank headquartered in Sharjah, United Arab Emirates. Established as the first commercial bank in the Emirate of Sharjah and the fifth in the UAE, the bank serves both retail and corporate clients across multiple sectors including industry, trade, education, and services. Bank of Sharjah is listed on the Abu Dhabi Securities Exchange under the trading code BOS and maintains a market capitalization of approximately AED 4 billion.

The bank operates through a network of branches in Sharjah, Dubai, Abu Dhabi, and Al Ain, positioning itself as "Your Partner in Progress" with a commitment to supporting the economic development of the UAE.

Question 2

When was Bank of Sharjah founded?

Accepted Answer

Bank of Sharjah was established on December 22, 1973, by Emiri Decree issued by H.H. Dr. Sheikh Sultan bin Mohamed Al Qassimi, Ruler of Sharjah. The bank was founded as a consortium between three members: the Government of Sharjah (holding a 20% stake), the National Bank of Abu Dhabi, and the Commercial Bank of Dubai.

Since its inception, the bank has played a pivotal role in the economic growth of the Emirate of Sharjah and the broader United Arab Emirates. Over the decades, Bank of Sharjah has evolved from a regional institution to a modern commercial bank with a strong presence across the UAE and beyond.

Question 3

Where is Bank of Sharjah headquartered?

Accepted Answer

Bank of Sharjah is headquartered on Al Khan Street in Sharjah, United Arab Emirates. The head office address is Al Khan Street, P.O. Box 1394, Sharjah.

The bank also maintains regional offices in key locations across the UAE, including Dubai Garhoud Street, Dubai Media City, Abu Dhabi's Al Mina Street and Musaffah area, and Al Ain's Khalifa Street. These strategically positioned offices support the bank's operations and provide convenient access for customers throughout the Emirates.

Question 4

Where does Bank of Sharjah operate?

Accepted Answer

Bank of Sharjah operates throughout the United Arab Emirates with a network of eight branches across four Emirates. The bank has a strong presence in Sharjah, where it was first established, and has expanded to key business centers in Dubai, Abu Dhabi, and the City of Al Ain.

Branch locations include Al Khan in Sharjah, Al Garhoud and Dubai Media City in Dubai, Al Mina Street and Musaffah in Abu Dhabi, and Khalifa Street in Al Ain. The bank also operates a network of ATMs strategically located for customer convenience throughout these regions. Additionally, Bank of Sharjah extends its reach internationally through its subsidiary, Emirates Lebanon Bank S.A.L., which operates in Lebanon.

Question 5

What services does Bank of Sharjah offer?

Accepted Answer

Bank of Sharjah provides a comprehensive range of banking services to individuals and businesses. For retail customers, the bank offers current and savings accounts, term deposits, personal loans, car loans, credit cards, debit cards, prepaid cards, and safe deposit lockers.

Corporate banking services include commercial finance, trade finance, cash management, project finance, escrow services, and treasury services. The bank also specializes in private banking and wealth management for high net worth individuals, offering tailored financial solutions and advisory services.

Digital banking services include the eBOS Internet Banking platform, online account opening, mobile banking applications, and digital payment capabilities. The bank has implemented IBAN standards across all payment channels and offers multiple security features including biometric authentication. Bank of Sharjah also facilitates international transfers through its SWIFT code BOSHAEAA and maintains correspondent banking relationships with central banks worldwide.

Question 6

What makes Bank of Sharjah unique?

Accepted Answer

Bank of Sharjah holds the distinction of being the first commercial bank established in the Emirate of Sharjah and the fifth in the entire United Arab Emirates, giving it a pioneering status in the region's banking history. The bank's tagline, "Your Partner in Progress," reflects its long-standing commitment to supporting the economic development of Sharjah and the UAE.

As a publicly listed institution on the Abu Dhabi Securities Exchange since 1973, Bank of Sharjah offers transparency and accountability to shareholders and stakeholders. The bank has demonstrated resilience and adaptability over five decades, maintaining strong corporate governance standards and aligning with international best practices.

Bank of Sharjah's focus on supporting local industries across diverse sectors—including construction, real estate, manufacturing, trade, and education—distinguishes it from banks with narrower sectoral focuses. The bank's subsidiary in Lebanon extends its reach beyond the UAE, providing regional banking expertise. Additionally, Bank of Sharjah emphasizes personalized customer service with multilingual staff and client-centric solutions that cater to both individual and corporate needs.

Question 7

What type of financial institution is Bank of Sharjah?

Accepted Answer

Bank of Sharjah is a commercial bank operating as a Public Joint Stock Company (P.J.S.C.) under UAE banking regulations. As a commercial bank, it provides a full spectrum of banking services to both retail and corporate customers, including deposit-taking, lending, trade finance, and payment services.

The bank is licensed and regulated by the Central Bank of the UAE and operates under the supervision of UAE banking authorities. Its public listing on the Abu Dhabi Securities Exchange means it is subject to additional disclosure requirements and corporate governance standards applicable to publicly traded financial institutions in the UAE. This structure allows Bank of Sharjah to serve a diverse customer base while maintaining transparency through regular financial reporting and adherence to regulatory frameworks that govern commercial banking operations in the United Arab Emirates.

Bank of Sharjah

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About Bank of Sharjah in the United Arab Emirates