DIB customers can recharge Salik account via Al Islami Online Banking

Bill payments and recharge offered in real time

Dubai, November 15, 2008: Dubai Islamic Bank (DIB) announced today the launch of its Salik Recharge Facility via the bank's Al Islami online banking service. Launched in cooperation with the Roads and Transport Authority (RTA), this new service allows DIB customers to make bill payments, enquire about their Salik account balance and recharge their Salik account. This service, which offers real-time payment solutions, is available in both Arabic and English.

In order to utilise the new service there is a minimum payment amount per transaction of AED 50 and a maximum payment amount per transaction of AED 5,000. All payment must be made in multiples of AED 50.

Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB, said: "As part of DIB's commitment to providing high-quality and convenient customer service, we are pleased to introduce this new facility, which allows our customers to manage their Salik accounts online simply and conveniently. This service makes Salik account management as trouble-free and transparent as possible."

He added that DIB customers are already able to pay credit card bills, utility bills, make Etisalat bill payments, Al Wasl line recharge, charity payments, funds transfers and other services through the bank's electronic banking services - these include ATM machines and Al Islami phone banking among others. "The new online Salik Recharge service comes in line with the bank's continued commitment to assist the RTA in its efforts to further develop the traffic system in Dubai," he said.

Mr. Musabah Al Qaizi, Head of Electronic Banking Service Department, DIB, said: "In light of the rapid growth of DIB and the Islamic banking industry as a whole, we continue to deliver new and innovative ways to better serve our customer base. This new concept in customer convenience is one of many that we will offer in the months ahead."  

The launch of DIB's online Salik Recharge Facility follows the bank's earlier announcement in October 2007 of a telephone Salik recharge facility.

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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. 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 reported AED 2.5 billion in net profit for the year ending December 31, 2007, rising by 60 per cent compared to AED 1.56 billion for 2006. The bank recorded total revenues of AED 7 billion for 2007, rising by 46 per cent compared to AED 4.8 billion for 2006. Total assets in 2007 reached to AED 84.3 billion, an increase of 31 per cent compared to AED 64.4 billion in 2006.

DIB set a world record by raising a US$3.52 billion sukuk for the Nakheel Group. This sukuk adopted an innovative structure never used before in Islamic or conventional banking history.

The bank has been proactive in creating partnerships and alliances at both the local and international level. DIB has adopted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. DIB opened its first representative office in Turkey to enhance its access to that market. DIB has also acquired a stake in Al Khartoum Bank and a stake in Emirates and Sudan Bank (ESB). These steps mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.

DIB has won the respect of its peers around the world. The bank was recently named by Islamic Finance News the UAE's Best Islamic Bank. DIB has also received many awards from international organizations, such as the prestigious "Bank of the Year - UAE" award from The Banker magazine and additional accolades from Euromoney.

For further information, please contact:
Nicholas Nesson / Mohammed Daggamseh
ASDA'A Public Relations
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com / m.daggamseh@asdaa.com

© Press Release 2008