Dubai Islamic Bank (DIB)Dubai Islamic Bank (DIB)

Chancellor Dr. Mahmoud Mohamed Al Kamali, General Manager, UAE Institute of Training and Judicial Studies, said: "As part of this initiative with DIBDIB, trainees from the Institute receive training and professional exposure at all levels. The most important aspect of the programme is that it helps trainees to apply their learning to real-life situations. For this purpose, it is the Institute's endeavour to partner with leading corporations and banks like Dubai Islamic Bank to conduct such hands-on training."

He added: "Trainees at this programme receive a better understanding of important operations at the bank such as clearing cheques, transfers, banking facilities, financing, credit cards, debit cards, and other functions."

Trainees were also briefed on the operations of various departments at the bank, as well as technical issues faced by each section, all of which is aimed to increase their efficiency upon graduation.

Obeid Al Shamsi, Head of Human Resources, DIB Group, said: "The five-day training programme is part of the bank's strategy to invest in and cooperate with vital institutions within the UAE, and to highlight the most important developments in the field of human resources."

The five-day course is being facilitated by Dr. Saleh Farag, Audit Manager, Sharia Supervisory Department, DIBDIB. It follows other recent training initiatives by the bank aimed at UAE nationals, including its Emarati and Iktassib training programmes, both of which concluded in August 2008.

"Our aim is to introduce students of the Institute of Training and Judicial Studies to the bank's overall vision, while imparting practical training of the bank's Audit and Sharia mechanisms. Pupils of previous DIBDIB training programmes found this training extremely useful in helping them understand Islamic banking mechanisms," Al Shamsi added.

• Loan

• Lender / Lending / Lend

• Borrower / Borrowing / Borrow

• Credit facility

• Advance

• Interest

-Ends-

About Dubai Islamic Bank:
Dubai Islamic Bank (DIB)Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices. DIBDIB is a public joint stock company and its share is quoted on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector.

The bank reported AED 2.5 billion in net profit for the year ending December 31, 2007, rising by 60 per cent compared to AED 1.56 billion for 2006. The bank recorded total revenues of AED 7 billion for 2007, rising by 46 per cent compared to AED 4.8 billion for 2006. Total assets in 2007 reached to AED 84.3 billion, an increase of 31 per cent compared to AED 64.4 billion in 2006.

DIBDIB set a world record by raising a US$3.52 billion sukuk for the Nakheel Group. This sukuk adopted an innovative structure never used before in Islamic or conventional banking history.

The bank has been proactive in creating partnerships and alliances at both the local and international level. DIBDIB has adopted an aggressive expansion strategy, which started with the establishment of DIBDIB Pakistan Limited, a wholly owned subsidiary of DIBDIB. DIBDIB opened its first representative office in Turkey to enhance its access to that market. DIBDIB has also acquired a stake in Al Khartoum Bank and a stake in Emirates and Sudan Bank (ESB). These steps mark DIBDIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.

DIBDIB has won the respect of its peers around the world. The bank was recently named by Islamic Finance News the UAE's Best Islamic Bank. DIBDIB has also received many awards from international organizations, such as the prestigious "Bank of the Year - UAE" award from The Banker magazine and additional accolades from Euromoney.

For further information, please contact:
Nicholas Nesson / Ghaleb Zeidan
ASDA'A Public Relations
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com / g.zeidan@asdaa.com

© Press Release 2008 from ASDA'A Public Relations

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