Industry certification reflects DIB's advanced and secure systems

DIB certified by Bureau Veritas Certification

Dubai, February 18, 2009: Dubai Islamic Bank (DIB) announced today that it has secured the ISO 9001:2000 Quality Management System Certification, a globally implemented standard for providing assurance about the ability to satisfy quality requirements and to enhance customer satisfaction in supplier-customer relationships.

The Information Technology (IT) Department of Dubai Islamic Bank received the ISO 9001:2000 certification from Bureau Veritas Certification, the world's largest global Conformity Assessment and Certification organisation. In a ceremony held recently, Marian Paruszewski, Head of Certification, Bureau Veritas presented the certificate to DIB officials including: Nadeem Busheri, Head of IT, who was accompanied by Musabbah Al Qaizi, Head of Electronic Banking Services, and V.D. Sharma, Head of Quality Assurance.

In January 2009, DIB's IT Department successfully completed the external quality audit of all its procedures and services to meet the set standards of Quality Management System as per ISO 9001:2000, without a single non-conformance, for the second time in a row.

The department implemented various projects and processes to provide timely, cost-effective, high-quality and secured information systems. These projects and processes have been vetted over a period of time, and have been audited by internal and external auditors.

Up on receiving the certification, Busheri said: "I am extremely pleased to accept this certification. The IT team at DIB has been continuously enhancing its process and policies since it was first certified in 2005. The ISO 9001:2000 Quality Management System Certification is a testament to our focus on providing excellent services to our customers."

The certification process, which includes defining the objectives, vision, mission, policies, procedures and ensuring proper implementation by regular internal and external quality audit, was carried out by the Quality Assurance Team.

Paruszewski said: "As a leading bank, DIB's systems hold large data, which are confidential in nature, making it imperative to safeguard this information. DIB's procedures, processes and systems have met international standards and we are pleased to certify DIB with the ISO 9001:2000 Quality Management System Certification."

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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 1.73 billion in net profit for the nine months ending September 30, 2008, an increase of 35 per cent compared to AED 1.28 billion during the same period of 2007. DIB's total assets increased 17 per cent to AED 86.8 billion as of September 30, 2008, compared to AED 74.1 billion at the end of the same period of 2007. Financing and investing activity rose 27 per cent for the nine months ending September 30, 2008, to reach AED 52 billion compared to AED 40.8 billion for the first nine months of 2007.Customer deposits increased 18 per cent to reach AED 68 billion in the nine months ending September 30, 2008, compared to AED 57.5 billion in the corresponding period of 2007.

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 adapted an ambitious expansion strategy, which started with the establishment of DIB Pakistan Limited (a wholly owned subsidiary of DIB). DIB has a representative office in Turkey, a fully operating office in Iran and has obtained approval for establishment of an Islamic Bank in Syria. Additionally, Dubai Islamic Bank, Dubai International Capital and Jordan Dubai Capital are also set to acquire a controlling stake in Industrial Development Bank of Jordan. These steps mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan. Built on solid commitment to Islamic Banking principles, DIB aims to maintain its position as the world leader in Islamic banking.

DIB has won the respect of its peers around the world. The bank was recently named "Best Islamic Bank" for the fourth consecutive year by Banker Middle East magazine. DIB has also received many awards from international organisations, such as the prestigious "Bank of the Year" award from The Banker (Financial Times), along with prestigious accolades from UK-based Euromoney and NY-based Global Finance magazines.

For further information, please contact:
Nicholas Nesson / Ghaleb Zeidan
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com / g.zeidan@asdaa.com

© Press Release 2009