The IFM Award distinguishes the bank’s significant role towards developing and transforming the Islamic banking industry over the years

Dubai, UAE: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, was recognized as the Fastest Growing Bank in the country at this year’s International Finance Magazine Awards. The awards ceremony took place at the Jumeirah Emirates Towers, on January 18, 2018.

Organized for the fifth consecutive year, the International Finance Magazine (IFM) Awards recognizes and honors individuals and organisations that make a difference and bring significant value to the international finance industry.

Commenting on the award success, Dr. Adnan Chilwan, Group CEO of Dubai Islamic Bank, said; “All of us at DIB are extremely proud of what we have achieved together over the recent past. And it is not just the incredible growth story that the organization has witnessed that instills this sense of pride, but the fact that it has done so in extremely trying and challenging times. The bank’s continued financial success and the ability to sustain growth two to three times that of the market over the last few years is proof of the fact that the efforts put into solidifying the franchise nearly a decade ago were not in vain. Today, we are an organization which is not guided by the environmental constraints or barriers. We are dictated by the needs and wants of our customers and our own aspirations. And this single minded focus on these two critical pillars has led to the bank delivering the market beating performance that continues to earn awards and accolades from local and international organizations.”

Growing at nearly 4 times the market in as many years, the bank is clearly seen as the leading performer in the UAE financial sector with its share of wallet now reaching the 9% mark. As a result of its many accomplishments in the Islamic Banking space, the bank has earned a plethora of awards including the Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank and Best Sukuk Arranger to name a few across a variety of regional and international platforms. Currently present in seven markets worldwide, DIB is well-placed to progress its global expansion plans and maintain its leadership as it continues in its mission to transform the Islamic finance industry.

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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 fourth largest Islamic bank in the world. The Bank currently operates 90 branches across the UAE, is present in seven markets worldwide and is expanding its global footprint to further grow and develop the industry. Serving close to 1.7 million customers, DIB offers its growing consumer base an increasing range of innovative Sharia compliant products and services.

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 40% 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.  

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. A clear indication of the bank’s leadership position in the Islamic finance sector, DIB named the Best Islamic Bank in the various prestigious ceremonies. In 2017, DIB won the coveted Global Islamic Business Award in its first edition in the region and was presented to the bank during the 23rd edition of the Business Excellence Awards Ceremony. 

For more information, please visit us at www.dib.ae.

© Press Release 2018