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The Darussalam Co-Operative Urban Bank Ltd. was established in Hyderabad, India, in 1987 by Sultan Salahuddin Owaisi, also known by the honorific 'Salar-E-Millat'. Owaisi, a six-time Member of the Indian Parliament, founded the bank as part of a broader mission to promote the welfare and economic growth of people, particularly the less privileged, in and around Hyderabad. The institution's initial objective was to assist poor people in achieving economic growth, alongside the establishment of other institutions like hospitals and training institutes. The bank operates as an Urban Co-operative Bank, offering a comprehensive suite of banking activities, including deposits, various loan products (agricultural, educational, housing), asset management, and core banking solutions through its network of over ten branches.

The bank's current status is that of a Co-operative Urban Bank, which in the Indian financial system means it is neither a fully public-sector nor a private-sector commercial bank, but an entity owned by its members (shareholders) and governed by co-operative principles, while still regulated by the Reserve Bank of India (RBI). While some sources classify it as a 'Private Bank' due to its non-government ownership, its statutory designation is co-operative. The bank's significance lies in its role as a key regional player in the co-operative banking sector, particularly in Telangana (formerly Andhra Pradesh), where it is committed to undertaking welfare-oriented activities and providing simplified banking solutions to its member community. This focus on community-centric banking allows it to offer essential financial services and support government schemes in areas that may be underserved by larger commercial banks.