31 January 2016
Dar Al Sharia dedicates the awards to Dubai Islamic Bank's leadership for their continuous support

Dubai, UAE - Dar Al Sharia, Dubai Islamic Bank's fully owned subsidiary, once again cements its position as the leading provider of Islamic finance advisory and consultancy services across multiple jurisdictions and regulations. Over the past year, the subsidiary has been recognised for its stellar performance. Being the pioneer behind the concept of Islamic banking, DIB established Dar Al Sharia in 2007 as part of its long-term vision to extend the reach of Islamic financial services to a wider customer base while remaining at the forefront of the fast-paced growth experienced in the industry globally.

Dar Al Sharia continued its unbeaten winning streak during 2015 whereby it received a total of five accolades from prestigious platforms, highly regarded by industry experts and peers. By offering unique and cost-effective solutions to customers, Dar Al Sharia stands today as a leader not only in the UAE and the GCC, but also across the globe, representing a one-stop solution centre for the growing and evolving needs of the Islamic finance industry.

Owing to its continuous commitment to excellence since its inception, Dar Al Sharia has collected 24 international awards in recognition for its innovative services. These include Sharia structuring and documentation for product development, Islamic capital market advisory (Sukuk), Takaful advisory, asset management advisory (Funds), Syndication, screening of stocks and establishment of Islamic indexes, Islamic banking and finance legislation for countries  seeking to roll out Islamic finance, conversion of conventional banks into Islamic banks, external Sharia audit, governance and compliance, development and delivery of Sharia training courses, Sharia compatibility check for IT solutions, establishment of Sharia boards and certification of products and transactions.       

Dar Al Sharia has received a series of coveted awards during 2015, having acquired the status of one of the most trusted institutions globally. These accolades include "Best Islamic Finance Consultancy Firm 2015" by Aafaq; "Best Islamic Finance Consultancy Firm 2015" and "Best Sharia Advisory Firm 2015" by the Islamic Finance News (IFN) Awards for the fifth consecutive year; "Best Islamic Finance Consultancy Firm 2015" by the Global Islamic Finance Awards; and "Best Sharia Advisory Service 2015" by the Islamic Business and Finance Awards.    

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About Dubai Islamic Bank:
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed 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. The bank currently operates 90 branches in the UAE.

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 175 branches across 56 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.

Alongside its accomplishments as a commercial organisation, DIB has always recognised its wider role in society. The bank supports the communities in which it operates through the DIB Foundation, a non-profit social, humanitarian and charitable organisation which distributes millions of dirhams to good causes at home and abroad each year.

For its contribution to both the banking industry and the wider community, DIB has earned the respect of its peers around the world. The bank's leading position has been reaffirmed by more than 185 local, regional and international accolades that it has won since 2004. DIB has won awards across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. Dubai Islamic Bank has been also declared the winner of the "Best Islamic Bank, UAE - 2016" by World Finance - Islamic Finance Awards 2016. DIB's notable recognitions recently  included being named the "Best Retail Bank ME", "Best Corporate Bank ME", "Best Commercial Bank ME", "Best Sukuk Arranger ME" and winning "Best Sukuk Deal" award at the Islamic Business & Finance Awards 2015 , in addition to receiving five accolades at the Banker Middle East Industry Awards 2015 for being named as the "Best Islamic Bank"; "Best Sukuk Arranger"; "Best Islamic Retail Bank", "Best Premium Bank - UAE" and "Best Investment Bank". DIB was also recognised for its retail banking services at the Banker Middle East Product Awards 2015, where it won the accolades for "Best Islamic Card" and "Best GCC Equity Fund", as well as being chosen as the "Islamic Bank of the Year -UAE" and "Most Established Bank of the Year - UAE" at 2015 Business Excellence Awards for the second consecutive year. Earlier this year, the bank has been recognised for its expertise in arranging complex deals, winning accolades for "Murdarbah Deal of the Year"; "Ijarah Deal of the Year"; and "Pakistan Deal of the Year" at the Islamic Finance News Deal of the Year Awards 2015.  Lately, Dubai Islamic Bank has been honored by H.E. Mariam bint Mohammed Khalfan Al Roumi, Minister of Social Affairs, with the accolade for "Private Sector First Class Category" at the Emirates Social Award, in recognition of its contribution to bolstering the social welfare of the country, whilst DIB Foundation, has been rewarded with "Private Sector Second Class Category" during the award ceremony aiming to recognize individuals, companies, private and government sector stakeholders for their commitment to developing the local community.

For further information, please contact:
Nadine Mazraani / Kanishk Mishra
Edelman DABO
Dubai, UAE
Tel: +9714-237-8000
Email: Nadine.mazraani@edelmandabo.com/ Kanishk.mishra@edelmandabo.com  

© Press Release 2016