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Dubai: Dubai Islamic Bank, the UAE’s largest shariah compliant bank, was named the ‘Strongest Islamic Retail Bank’ in the UAE at the recently held Islamic Retail Banking Awards (IRBA).
Organized by Cambridge IF Analytica, the 2nd Islamic Retail Banking Awards (IRBA) were held as part of the 8th Edition of the World Islamic Retail Banking Conference (WIRBC) in Dubai and commemorated the success and the contribution of banks and financial institutions to the industry’s consumer banking and finance sector over the past year.
Sanjay Malhotra, Chief of Consumer Banking at DIB said: “We are honored to be named as the ‘Strongest Retail Bank’ in the UAE. Today, DIB has one of the largest consumer bases in the country with over 1.7 million customers and 90 branches across the nation. A key driver of this growth has been the Bank’s customer centric approach that is embodied in our ‘Customer First’ program. We believe in combining our local heritage, tradition and inherent expertise with personal service and innovation to provide customers with multi-faceted solutions tailored to meet their financial needs.”
DIB is a pioneer in the field of Islamic banking and finance, and is committed to the progression and penetration of Islamic Banking and Finance in the UAE and beyond.
DIB’s principal activities are focused on retail and business banking, corporate banking, real estate and contracting finance, investment banking and treasury. Currently present in seven markets worldwide, DIB is well-placed to continue its global expansion and maintain its leadership in transforming the Islamic finance industry.
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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 has also started operations in Jordan, with the establishment of Jordan Dubai Islamic Bank, and in 2015, it 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 CSRand 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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For more PR information, please contact:
Dubai Islamic Bank Weber Shandwick
Jawaher Juma Al Shamsi Grace Wittenberg
AVP – Head of Corporate Communication & PR Senior Account Manager
Direct: +971 4 207 5314 Direct: +971 4 445 4254
Email: jawaher.alshamsi@dib.ae Email:GWittenberg@webershandwick.com
© Press Release 2016
