Dubai - Dubai Islamic Bank (DIB) has announced the launch of a new Corporate Identity that reflects the bank's progressive vision to provide a better way of banking.
The launch of the new identity coincides with DIB's 30th anniversary and comes in line with the bank's continuous efforts to reach new heights in its quest for excellence and leadership at the local, regional and International levels.
The new identity retains the Alislami "circular shape" and reflects the design of the first ever Islamic coins known to history, thus reiterating DIB's position as the first Islamic bank in the world. The newly-added brighter green and yellow background aims to represent DIB's spirit of modernity, evolution and customer friendly services. The Arabic typeface has been changed to Al Thuluth, a very distinct and original Arabic font, which is easy to interpret and read.
Commenting on the launch of the new identity, Dr. Mohamed Khalfan bin Khirbash, UAE Minister of State for Finance and Industry and Chairman of Dubai Islamic Bank, said: "We hope that the new logo will help the Bank to deliver more value to our ever increasing base of customers with enhanced products and services provided with the same welcoming smile that has characterized the Bank's nature for all these years."
"The new identity shall reflect the significant development and growth that the Bank has achieved in the last few years as DIB has lead managed and arranged some of the largest Islamic finance deals in the region and world. These significant deals contributed to enhance the position of the UAE as a financial hub. DIB will continue to implement its ambitious expansion plans to enhance its presence in the regional and international markets as well as entering new regional markets," he said.
Dr. Khirbash added: "DIB is looking to the future with a new modern face. In the business world, success is measured by the growth of profits, assets, and the ability of institutions to progress. In DIB, we also believe an essential element in measuring a corporation's success is its ability to create the right work environment to encourage creativity."
"DIB's achievements confirm that we have created such an environment and, as a result, our employees have been able to develop their potential, advance in their careers and boost the bank's performance," he said.
The signage of its offices and branches across the UAE will be changed to accommodate the new logo.
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DIB profile
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam 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. Figures for the year ending December 2004 reported a 36 per cent increase in net profits including depositors' profits, to reach AED 1.02 billion (US$278 million) compared to AED 751 million (US$205 million) for 2003. The bank's assets at the end of December last year had grown 35 per cent in the same period to AED 30.8 billion (US$8.3 billion), against AED 22.8 billion (US$6.2 billion) for the equivalent year previously.
DIB's net profit (including depositors' share) for the first nine months of 2005, reached AED1.465 billion, as against AED710 million for the same period of last year, registering 106 per cent growth. The bank's assets at the end of September 2005, rose AED5.3 billion to AED33.4 billion, compared to AED28.1 billion at the end of September 2004.
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), which recently completed its US$28.5 million IPO and was oversubscribed by more than US$224 million. 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 within the UAE, one of which led to the world record US$1 billion Islamic bond issue. The issue was arranged for the Government of Dubai's Department of Civil Aviation 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
Tarek Fleihan ASDA'A Public Relations
Dubai, UAE
Tel: 971 4 3344550
Fax: 971 4 3344556
E-mail: info@asdaa.com
© Press Release 2005
