Dubai: From being a pioneer Islamic financial institution, the first in the world to today, the largest Islamic bank in the UAE and the second largest the world over, Dubai Islamic Bank (DIB) has been rapidly transforming itself to keep up with the ever-evolving world.
An area that DIB considers of significance is youth empowerment and development, and the recent partnership with KFI GLOBAL demonstrates the commitment that the organization has towards providing a better and more sustainable future for the younger generation.
The initiative entails teaching young students on the basics of money and the importance that finance plays in our lives, in an environment that they are accustomed to, their own schools and classrooms.
The idea is to provide participating schools the opportunity to receive a high-quality financial education, crafted specially to modulate and even challenge the way students think about money. The end objective is to raise financial awareness amongst students.
Commenting on the initiative, Dubai Islamic Bank’s Group CEO, Dr. Adnan Chilwan, said “Be it digital technology in its operations or AI and big data or even environmental related sustainable initiatives, DIB remains in the forefront with the singular approach of providing solutions for customers that positively impact their daily lives. In the larger scheme of things, empowering the youth is one of the biggest focus areas for us at DIB. This generation, gen-next, will form the bulk of the future world population and the aim is to ensure that they are well equipped with financial literacy at a young age shaping their minds to make better decisions in the years to come” he added.
“DIB’s partnership with KFI GLOBAL helps us address this critical piece within our future-focused strategy that promises to change and challenge the way youth think about money, while also further solidifying our commitment and responsibility towards the next generation of decision makers. Most importantly, we remain committed to the UAE’s focus on supporting the development of a knowledge-driven and empowered generation of the future.”
Marilyn Pinto, Founder of KFI GLOBAL said: “As the UAE’s leading provider of financial education for teens and young adults, we are thrilled to partner with Dubai Islamic Bank on this ground-breaking initiative. Thanks to their wholehearted support, thousands of students across the UAE are now setting themselves up for a more financially secure future. It’s fantastic to see so many of the nation’s youth benefit from our expertise, experience and highly acclaimed content. This initiative is immediately differentiated by that fact that we deliver the entire financial education program to the participating students. This isn’t just
about building awareness, it’s about creating actual change in the lives of the students though world class content and engaging discussions. And this is supported by the overwhelming response this initiative has garnered from both students and educational institutions since it started early this year. "
Endorsing this initiative, Nargish Khambatta, Principal and CEO of GEMS Modern Academy and Vice President – GEMS Education, said; “Thanks for conducting the Financial Empowerment program sponsored by Dubai Islamic Bank. We are sure your words will have had a lasting impact on the students and will remind them to be conscientious and positive ambassadors.”
As warmly welcomed by 19 educational institutions, over 1750 students have benefitted from the program since its launch. To boost the inclusion of this initiative, DIB endeavors to spread such exciting educational program to the rest of the schools in Dubai and beyond.
About Dubai Islamic Bank:
Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and the second largest Islamic bank in the world. With Group assets in excess of USD 80bln and market capitalization of nearly USD 9bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 3 million customers across the Group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients.
In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shari’ah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB’s first foray in the Far East, the bank owns a nearly 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry.
The Bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world’s Islamic Banks, marking it a clear indication of the bank’s leadership position in the Islamic finance sector.