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Dar Al Sharia named 'Leading Advisory Group' at Mediterranean Awards for Global Excellence in Islamic Finance

Dubai, November 20, 2011: Dubai Islamic Bank ( DIB ) announced today that its Sharia consultancy subsidiary, Dar Al Sharia Legal & Financial Consultancy LLC, has been named the "Leading Advisory Group" at the third Mediterranean Islamic Finance Conference in Malta. The award ceremony was held in the presidency palace and the award was presented to Khurram Abdullah, Senior Manager, Dar Al Sharia, by Joseph Church, Secretary to the Presidency of Malta, at a high profile ceremony attended by Islamic Finance experts from around the world.

Under the leadership of Dr. Hussain Hamed Hassan, Dar Al Sharia provides regional and international Sharia, legal and financial consultancy for all types of Islamic financing and investment transactions. The firm evolved from DIB 's own Sharia Coordination Department, the first such entity launched by an Islamic bank.

Dar Al Sharia was recognised with the "Leading Advisory Group" award for its contribution to the development of the Islamic finance industry, and its dedication to raising awareness and increasing understanding of Sharia compliant finance in the region and globally.

"Dar Al Sharia takes great pride in receiving this prestigious award which recognises the important role the company has played in supporting the fast growing global Islamic finance industry," said Sohail Zubairi, Chief Executive Officer, Dar Al Sharia. "The success of Dar Al Sharia is due to the hard work and dedication of a team of world class professionals, but I would like to pay particular thanks to Dr. Hussain for his continued guidance in promoting the application of authentic Sharia practices around the globe."

The Mediterranean Awards for Global Excellence in Islamic Finance take place each year in Valetta, Malta as part of the Mediterranean Islamic Finance Conference.

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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 70 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 64 branches across 26 major cities in Pakistan. DIB has also started operations in Jordan, with the establishment of Jordan Dubai Islamic Bank

DIB has earned the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 79 local, regional and international accolades that it has won between 2008 and 2010. 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 in UAE" for the fifth consecutive year by Islamic Finance News, "Best Islamic Bank" in the UAE for 2010 by NY-based Global Finance magazine, "Best Islamic Bank in the UAE" by Asiamoney magazine, and being named winner of the first-ever Pan-Arab emeafinance award for corporate social responsibility.

For further information, please contact:
Liam Turner
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-4507600
Fax: 971-4-4358040
E-mail: l.turner@asdaa.com

© Press Release 2011