The Dubai Islamic Bank (DIB), established in 1975, was one of the first Islamic
banks in the UAE. The bank offers a range of Islamic commercial banking as well
as investment banking including advisory and asset management. DIB ranked as the
sixth largest commercial bank and the largest Islamic bank in the UAE in terms
of total assets, which amounted to AED64.4 billion (USD17.5 billion) by the
close of 2006.

DIB expanded its branch network from 12 branches in 2002 to 50 branches as of November 2008 throughout the UAE. DIB further expanded its banking operations into Iran,
Pakistan and Sudan. The bank has a diversified portfolio of subsidiaries
operating across various industries including financial services, shipping and
real estate.

Within its corporate banking activities, DIB places special emphasis on
contracting and real estate financing. Publicly-listed on the Dubai Financial
Market, DIB completed a rights issue by October 2006 which raised its paid-up
capital to AED2.8 billion (USD762.5 million). DIB increased its revenues by 70%
to AED4.6 billion (USD1.2 billion) in 2006 from AED 2.7 billion (USD734.1
million) in 2005. Net profits rose by 47% to AED1.6 billion (USD424.8 million)
in 2006 from AED1.0 billion (USD288.9 million) in 2005.