Dubai, June 9, 2014

Dubai Islamic Bank PJSC ("DIB") wishes to announce that they have completed their first phase of accumulating shares in PT Bank Panin Syariah Tbk ("Bank Panin Syariah"), a listed Syariah commercial bank in Indonesia

As per the envisaged plan, announced through an earlier press release on May 19, 2014, DIB has completed the acquisition of 24.9% shares in Bank Panin Syariah by acquiring 2,427,750,000 shares.

Upon completion of this Phase 1 of the acquisition, DIB will initiate formal regulatory approval process to obtain "Significant Shareholder Status" from the Financial Services Authority ("OJK"). Upon being granted this approval from the OJK, DIB will complete phase 2 of the share purchase plan and will increase its stake in Bank Panin Syariah to upto 40%.

Bank Panin Syariah offers Islamic banking services in Indonesia. DIB intends to cooperate with Bank Panin in order to promote the growth of Sharia banking in Indonesia. To achieve this, DIB will provide its well-established expertise in Islamic banking operations to Bank Panin Syariah, which will be bolstered by Bank Panin's knowledge of the local market.

Bank Panin Syariah is currently controlled by PT Bank Panin and currently operates through a network of 10 branches (with its head office located at Panin Life Center Building, Jakarta). The bank is listed on the Indonesia stock exchange.

-Ends- 

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 and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed 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. The bank currently operates more than 86 branches in the UAE.

DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which has a network of more than 100 branches across 36 major cities in Pakistan. DIB has also started operations in Jordan, with the establishment of Jordan Dubai Islamic Bank.

Alongside its accomplishments as a commercial organisation, DIB has always recognised its wider role in society. The bank supports the communities in which it operates through the DIB Foundation, a non-profit social, humanitarian and charitable organisation which distributes millions of dirhams to good causes at home and abroad each year.

For its contribution to both the banking industry and the wider community, DIB has earned the respect of its peers around the world. The bank's leading position has been reaffirmed by more than 120 local, regional and international accolades that it has won since 2008. DIB has won awards across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. In addition to the "Best Islamic Bank 2013" at the Global Islamic Finance Awards, recent recognition includes being named "Best Islamic Retail Bank" at the Banker Middle East Industry Awards, "Best Sukuk House" at the EMEA Finance Middle East Banking Awards, as well as being chosen as the "Best Corporate Bank" and winning the awards for "Best Credit Card" and "Best Banking CSR Initiative" at the Islamic Business & Finance Awards. Dubai Islamic Bank has been also declared the winner of the "Best Islamic Bank, UAE - 2014" by World Finance - Islamic Finance Awards 2014.

For further information, please contact:
Rawan El Saleh / Kanishk Mishra
DABO & CO
Dubai, UAE
Tel: +9714-237-8000
Email: rawan.e@daboandco.com / kanishk.m@daboandco.com

© Press Release 2014