Abu Dhabi Islamic Bank is weighing whether to change its name as it targets more non-Muslim customers beyond its home market.
The second-biggest Shariah-compliant bank in the United Arab Emirates may change to Abu Dhabi International Bank outside the nation to lure customers and help capture a market that’s about 200-times the size of Shariah banking.
The bank claims that having the word “Islamic” in its name makes it seem like the bank is only for Muslims. Interestingly, the bank wouldn’t change its name in the U.A.E.
This is in line with Shariah-compliant finance’s primary dawah mission–that is to promote Shariah and Jihad.
Some might say, however, that it amounts to outright fraud. The bank is seeking to conceal the fact that it is Shariah-compliant in order to dupe non-Muslim customers into doing business with it. This would appear to violate acceptable standards of disclosure in many Western nations…