Dubai, 30 July, 2006: Dubai Islamic Bank (DIB) has donated AED 5 million in aid to the Lebanese people in their current moment of crisis.

The donation is in response to the 'Towards Healing Lebanon's Wounds' campaign organised by Dubai Media incorporated in partnership with the Sheikh Mohammad Bib Rashid Humanitarian and Charitable Foundation and the UAE Red Crescent Foundation.

Dr. Mohamed Khalfan bin Kharbash, UAE Minister of State for Finance and Industry and Chairman of DIB, said: "UAE has always been at the forefront in helping the needy. It is heartening to see UAE extending its support to the Lebanese and that the gesture is in line with the historical and political ties with this great country."

"The 'Towards Healing Lebanon's Wounds' campaign is yet another step towards showing the true spirit of compassion for the Lebanese. Our donation is a small gesture that will help alleviate this problem," he added. 

"DIB's initiative comes in line with the Bank's aim at providing at least the minimum requirements for the people of Lebanon in this, their time of distress, and an honest hand of help to all our brothers there," he concluded. 

-Ends-

About DIB:
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of slam in all its practices. DIB is a public joint stock company and its share is quoted 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. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector.

The bank's recent financial results confirm the strength of its balance sheet and profitability. The bank reported net profit for the year ending 31st December 2005 of AED1.061 billion rising by 130 per cent compared to AED461 million in 2004. The profit for the bank, including depositors' profits, reported a 97 per cent increase for the year ending December 2005 at AED2 billion compared to AED1.017 million for 2004.

Financing and investment operations also delivered strong growth, with total financing now standing at AED25.6 billion rising by 46 per cent compared to 2004. Total assets reported a 40 per cent increase to AED43 billion. Customer deposits too showed an aggressive growth, reaching AED33.34 billion in the year, a growth of 34 per cent over 2005.

The bank has been proactive in creating partnerships and alliances at local and international level. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. The bank has also co-managed Pakistan's US$600 million first Sovereign Islamic bond issue that received a tremendous response from investors.

DIB opened its first representative office in Turkey to improve its access to that market. DIB has also acquired 60 per cent of its stake in Al Khartoum Bank and is also among the parents banks of Emirates and Sudan Bank (ESB). The steps taken mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.

DIB has also shown its outstanding capabilities by being appointed to provide specialist financial solutions for huge developmental projects including the Dubai Ports, Customs & Free Zone Corporation (PCFC) $3.5 billion Sukuk, the world's largest, and Dubai's Department of Civil Aviation US$1 billion Islamic bond issue. The issue was arranged to raise funding for the second phase of the expansion of Dubai International Airport. The bank also managed financing of US$350 million for Nakheel. The financing made further capital available to build on Nakheel's blue chip portfolio of developments such as The Palm in Dubai.

For further information, please contact:
Tim Harrison / Bakul Gala / Tarek Fleihan
Mobile: 5097631 / 2459547 /  5198511
ASDA'A Public Relations
Dubai,
UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
E-mail: t.harrison@asdaa.com, b.gala@asdaa.com, t.fleihan@asdaa.com

© Press Release 2006