|11 March, 2019

Dubai Islamic Bank recognized with nine distinctive honors at the 2019 Islamic Finance News Awards

DIB named "Best Overall Islamic Bank" and "Best Islamic Bank in the UAE" for a fourth consecutive year

Dubai Islamic Bank recognized with nine distinctive honors at the 2019 Islamic Finance News Awards

The bank also won “Best Islamic Retail Bank”, “Best Islamic Bank (Kenya)”, in addition to top deals accolades which capped five landmark transactions.

Dubai: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, received nine industry recognitions at the prestigious Islamic Finance News (IFN) Awards 2019. The bank was honored once again with the “Best Islamic Bank” in the UAE, “Best Islamic Bank” in Kenya, “Best Overall Islamic Bank” and the “Best Islamic Retail Bank” awards at the IFN Best Banks Poll 2018, among five other key accolades for the coveted “Deal of the Year”.

Held at the Ritz Carlton in DIFC, Dubai, on March 10, the IFN Awards event honored the most distinguished and impactful players in unraveling the potentials of Islamic Finance to a wider base of investors and audience. The awards ceremony recognizes the contributors to industry under two categories, the Best Bank Polls and Deals of the Year.

Commenting on winning the awards, Dr. Adnan Chilwan, Group CEO of DIB, said: “Once again, our team’s perseverance and hard work is recognized at the IFN Awards. It is truly a proud moment for all of us at DIB and I am extremely grateful to everyone who have supported us over the years with such recurring wins. Islamic Finance is embedded within DIB’s identity and the bank is committed to growing the industry globally. Strengthening DIB’s legacy beyond the UAE, are one of the many achievements 2018 carried for us, and we will continue to build on this momentum and further enhance the bank’s already accepted position as a global pioneer in the Islamic Finance industry.”

Reflective of DIB’s status as a global leader in Islamic Finance, the bank was also honored with five other exceptional local and international transactions it successfully implemented throughout 2018. The “Hybrid Deal of the Year” award comes in light of the US$300 million Sukuk under US$3 billion program for SENAAT. With DIB’s ever-growing presence in Indonesia, the “Indonesia Deal of the Year” and “Sovereign Deal of the Year” awards were welcomed with the Government of Indonesia’s US$1.25 billion green sovereign Sukuk. Additionally, Dubai Silicon Oasis’ Phase 2 of Souq Extra was financed with AED50 million, earning DIB the “Most Innovative Deal of the Year” award. Lastly, the Senior Unsecured RegS Ijara/ Murabaha USD 5-year Sukuk brought home the “UAE Deal of the Year” accolade.

-Ends-

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 second largest Islamic bank in the world. The Bank currently operates around 70 branches and more than 550 ATMs 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 1.9 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 has been named the Best Islamic Bank in the various prestigious ceremonies. Recognizing its outstanding performance amongst the world’s Islamic retail banks, the bank was recently named as the “Strongest Islamic Bank in the World” during the Islamic Retail Banking Awards 2018. Reflective of its leadership in the global Islamic finance industry, DIB has also been recognized with a number of accolades including Banker Middle East Awards, Dubai Service Excellence Scheme, Global Finance, The Banker and Islamic Finance News Awards.

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

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© Press Release 2019

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