Dubai, Apr. 29th, 2006 (WAM) --- Dubai Islamic Bank (DIB) announced the opening of its first branch in Umm Al Qaiwain raising its branch network to 28 branches across the country.

Sheikh Saud bin Rashid Al Mualla, Crown Prince of Umm Al Qaiwain, inaugurated the new branch which is located on King Faisal Road, Umm Al Qaiwain. Dr.

Mohamed Khalfan bin Khirbash, UAE Minister of State for Finance and Industry and Chairman of DIB, Saad Abdul Razak, CEO of DIB, and Mohammed Amiri, Executive Vice President, Branches, DIB, attended the opening ceremony.

Sheikh Saud Al Mualla welcomed DIB's initiative to launch operations in Umm Al Qaiwain. He said that the new branch will contribute to support the economic development in Umm Al Qaiwain.

At the occasion, Dr. Khirbash said: "The step comes in line with DIB's strategy to enhance its distribution channels across the country. The branch, which is the first DIB branch in Umm Al Qaiwain, will offer a range of services including opening current, saving, and investment deposit accounts, Murabaha, financing services, and many other products." "The bank has been working continuously to implement expansion plans, offer advanced banking services, and invest in product development. The new branch builds on the successful opening of DIB's recent branches in Ras Al Khaimah and Fujairah." The branch will offer an advance banking service for women. It enables them to conduct all their financial transactions in an atmosphere that respects their privacy and perceives their individuality.

DIB's new branch is a state of the art banking facility where all customers' financial requirements and inquiries are met by a team of top banking professionals who can better understand their clients' needs for tailor made financial services and solutions and still sustain the comfort of its customers.