World's first Islamic bank named 'Best Sukuk Arranger' and 'Best Private Bank' at annual event recognising the best in Islamic finance

Dubai, UAE; December 12, 2012: Dubai Islamic Bank (DIB) announced today that it has been named "Best Sukuk Arranger" and "Best Private Bank" at the 2012 Islamic Business & Finance Awards, a leading event for the global Islamic financial community. The awards were received by Dr. Adnan Chilwan, Deputy Chief Executive Officer, DIB and reflect the bank's sustained focus on playing a vital role in the nation's economy.

Speaking at the awards ceremony, Dr. Adnan Chilwan, said: "From handling the issuance of Islamic bonds for organisations that are integral to the UAE economy, to providing exclusive and unmatched private banking services for our high net-worth customers, we continue to innovate and set higher benchmarks for the Islamic finance sector. DIB has been a pioneer in Sukuk issuance and Islamic banking products and services, in general, and we are very pleased to receive these awards for continuing to provide the best Shariah-compliant alternatives to conventional banking services on the market today. We take pride in leading from the front, and look forward to continued success for years to come."

Over the past year, DIB has been involved in several benchmark Sukuk transactions including Jebel Ali Free Zone's US$650 million 7 year Islamic bond, Government of Dubai's US$1.25 billion Dual Tranche 5 year and 10 year Sukuk, Majid Al Futtaim's US$400 million 5 year debut Sukuk issuance, Emaar's US$500 million 7 year Sukuk and DIB's own US$500 million 5 year issue.

DIB also won the "Best Private Bank" award for Wajaha, an invitation-only wealth management service that offers sophisticated Islamic banking products and services at exclusive banking centres to high net-worth customers. 

Now in its seventh year, the annual Islamic Business & Finance Awards event is sponsored by Islamic Business & Finance magazine and brings together more than 300 senior Islamic bankers from across the Middle East, Europe, the Americas, Africa and Asia to recognise the best in Shariah-compliant banking services.

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 75 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 75 branches across 30 major cities in Pakistan. DIB has also started operations in Jordan, with the establishment of Jordan Dubai Islamic Bank

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.

DIB has earned the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 92 local, regional and international accolades that it has won between 2008 and 2012. DIB has won awards across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. The bank's most recent awards include being named "Best Islamic Bank, UAE" by World Finance and Banker Middle East magazines, "Best Distance Banking Service" (Electronic Banking Services) by Banker Middle East, and being named among The Banker's "Deals of the Year for 2012."

For further information, please contact:
Liam Turner / Tameem Al Kintar
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-4507600
Fax: 971-4-4358040
E-mail: liam.turner@bm.com / tameem.alkintar@bm.com  

© Press Release 2012