Dubai, UAE, 9 March 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded with “Best Sukuk House” at the EMEA Finance Middle East Banking Awards 2016. The ninth edition of the EMEA Finance Middle East Banking Awards took place at the Conrad Hotel in Dubai recently, and celebrated the regional banking industry’s top achievers.
Dubai Islamic Bank is an international leader in Islamic capital markets, covering a wide range of asset classes. Associated with some of the largest ever Sukuk issuances where the bank played either a lead or a joint-lead role, it is now considered locally and internationally, by sovereigns, public and private sector names alike, as a critical partner in raising funds in the Islamic capital markets space.
Dr. Adnan Chilwan, Group CEO, DIB commented on the award: “As a leading Islamic bank in the UAE, our commitment to innovation and progression of the sector remains unabated. New products and offerings, particularly those that provide access to capital across international boundaries are critical, hence sukuk and its various hybrids are expected to play a vital role in this regard. This award is a reflection of our dedication to helping drive the development of both the nation and the wider Islamic finance industry. We strongly believe that the continuous development and progression of Islamic capital markets is key to the future growth of Islamic banking and finance. In fact, as Dubai positions itself to become the global capital of Islamic economy, the Sukuk market is expected to play a massive role in supporting this agenda and bringing the required funding for other sectors such as halal food, healthcare, fashion, tourism, even art and entertainment, to prosper and grow.”
This is the 17th award DIB has been recognized for since the start of 2017, demonstrating the Bank’s commitment to continuously improve, excel and develop the Islamic finance industry worldwide.
About Dubai Islamic Bank:
Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and the fourth largest Islamic bank in the world. The Bank currently operates 90 branches across the UAE, is present in seven markets worldwide and is expanding its global footprint to further grow and develop the industry. Serving close to 1.7 million customers, DIB offers its growing consumer base an increasing range of innovative Sharia compliant products and services.
DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which has a network of more than 243 branches across 62 major cities in Pakistan. DIB also received regulatory approval to increase its shareholding in PT Bank Panin Syariah in Indonesia to 40 percent.
Embarking on a newly established growth agenda in 2014, the Bank has been a leading performer in the UAE financial sector over the last three years with record breaking performance despite volatile market conditions. The massive growth has seen DIB’s market share cross over 6%, the financing book nearly doubling and deposits growing by over 50% during the same period. Even more impressive is the more than 100% growth in profits in the last three years as DIB joined the exclusive USD 1 bln profit club in the country.
The Bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking for businesses and consumers worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. Consequently, DIB has been recognized as “Best Islamic Bank in the UAE” at the 2016 World Finance – Islamic Finance Awards, “Strongest Islamic Retail Bank in the GCC” at the 2015 Islamic Retail Banking Awards, and lately received four major accolades at the 11th Islamic Business and Finance Awards 2016, including “Best Retail Bank in the UAE, Best Corporate Bank in the UAE, Best Sukuk Arranger and Best Islamic Bank”.
For more information, please visit us at www.dib.ae.
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