DIB is the world's first full-service Islamic bank. Murabaha and Ijara are financing, not interest. Zakat is a charity deduction, not a business expense. The export keeps these distinctions intact.
Convert for tax prepThe UAE has no personal income tax, so individuals filing on personal income do not need a statement-driven return. The work sits at the entity level: 9% corporate tax on profit above AED 375,000 since June 2023, and 5% VAT since January 2018 for businesses above the AED 375,000 annual revenue registration threshold. Islamic finance products carry specific VAT and CT treatment that conventional banks do not, which is why DIB statements need careful handling.
DIB serves a large share of UAE national businesses, Sharia-conscious SMEs, and Muslim expat-led ventures. The bank issues a bilingual Arabic-English PDF that is FTA-ready, but the description field carries Islamic product terminology — Murabaha, Ijara, Wakala, Takaful — that conventional accounting tools do not classify out of the box. Kashfbank pre-tags these lines so they post to the correct ledger account.
Murabaha is a cost-plus sale where the bank purchases the underlying asset and sells it to the customer at a marked-up price payable in instalments. The Murabaha margin is not treated as interest for VAT purposes, but it may still be a taxable supply depending on structure. Ijara is a lease, so monthly Ijara payments are lease costs in the P&L. Takaful premiums are Islamic insurance — generally VAT-exempt under UAE law.
Wakala profit credits represent the bank's investment of customer funds and are profit-share returns, not interest. For CT, these are investment income, not trading income. Zakat deductions are mandatory charity payments — they are not tax-deductible for CT purposes and require their own ledger account.
Pull a clean revenue figure for CT, every input-VAT supplier debit, every output-VAT remittance, every Murabaha and Ijara instalment separately, every Wakala profit credit, and the annual Zakat row. Each lands in a different section of the FTA return.
Bilingual Arabic-English PDF. Dates DD/MM/YYYY. Clean tabular layout: date, description (bilingual), debit, credit, running balance in AED. Product name (e.g., Al Islami Current Account) in header. Supports current and savings account formats. Islamic contract type may appear in transaction description (e.g., Murabaha instalment).
| Label | Meaning |
|---|---|
| POS PURCHASE | Card payment at merchant |
| ATM WITHDRAWAL | Cash withdrawal at ATM |
| SALARY | Monthly salary via WPS |
| MURABAHA INSTALMENT | Monthly repayment for Murabaha finance product |
| IJARA PAYMENT | Lease payment under Islamic Ijara contract |
UAE corporate tax (9% above AED 375K, effective June 2023) requires businesses to reconcile bank deposits against revenue figures; statements are the primary source for revenue verification by the FTA.
Download the DIB statement covering your tax period
From DIB Mobile, request the statement covering your full CT period or VAT quarter. Save the PDF and upload it to Kashfbank. Keep the PDF for the FTA's seven-year retention window.
Confirm product type and bilingual layout
Check the header for the product name — Al Islami Current, Al Islami Savings, or a financing product. The bilingual description column is wider; Kashfbank reads Arabic and English on the same row independently.
Map Islamic finance lines to the right ledger
Murabaha and Ijara are financing — they go to a finance-cost line, not interest. Wakala profits are investment income. Takaful is insurance. Zakat is charity. Kashfbank applies the tags so the accountant just confirms the map.
Export and hand to your tax agent
Download the CSV. Zoho Books UAE VAT edition imports it directly. Your tax agent maps Islamic finance lines to a dedicated section of the chart of accounts. Keep the original PDF for the FTA's seven-year retention window.
Common challenges
Are Murabaha instalments treated as interest for UAE VAT and CT?
No. Murabaha is a cost-plus sale, not a loan. The Murabaha margin is not interest for VAT, though it may still be a taxable supply depending on structure. For CT, Murabaha instalments are financing repayments, not interest expense. Kashfbank tags them as financing in the Category column.
How does DIB's bilingual statement export to Zoho Books?
DIB prints Arabic and English on the same transaction row. Kashfbank parses each language independently and produces a single English description for the import, with the Arabic descriptor retained. The CSV then opens directly in Zoho Books UAE VAT edition.
Is Zakat tax-deductible under UAE corporate tax?
No. Zakat deductions are not deductible for CT purposes. They book to a separate Zakat liability account, not as a business expense. Kashfbank tags ZAKAT DEDUCTION rows so they do not land in the deductible expense column by mistake.
Do Takaful premiums attract VAT?
Takaful is Islamic insurance. Under UAE VAT law, life insurance and certain forms of cooperative insurance are exempt; general Takaful (motor, property, marine) may be standard-rated. Check the specific Takaful product with your tax agent. Kashfbank tags the row so the agent knows where to look.
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Regulator: Central Bank of the UAE (CBUAE)
Fiscal year: Jan 1 – Dec 31 (Gregorian)
Full country guide →Statement language: English