Dubai Islamic Bank

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Dubai Islamic Bank
Public
Industry Regional banks
Founded 1975; 42 years ago (1975)
Headquarters Dubai, United Arab Emirates
Key people
Adnan Chilwan, GCEO
Mohamed Abdulla Al Nahdi, deputy CEO
Mohammed Al Shaibani is chairman of the board of directors
Products Banking and insurance
Number of employees
4,233[1]
Website www.dib.ae

The Dubai Islamic Bank (DIB) is an Islamic bank in Dubai, established in 1975. It 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.[2]

DIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank currently operates 90 branches in the UAE.[3] Adnan Chilwan serves as the bank's president and chief executive, while Mohammed Al Shaibani is chairman of the board of directors.

DIB is involved in local and international partnerships, having established DIB Pakistan Limited, a wholly owned subsidiary which has a network of 200 branches across 62 major cities in Pakistan.[3] DIB also has a representative office in Turkey, and has received a preliminary banking licence by the Central Bank of Jordan to operate as an Islamic financial institution, through a new entity - Jordan Dubai Islamic Bank.

Financial information[edit]

Figure 2013 2012 2011
Total Assets[clarification needed] 30,613,361 22,778,319 19,587,790
Shareholder's Equity 2,687,419 1,548,180 1,473,986
NIAT 461,003 234,456 159,798
Dividends NA 150,000 100,000
Assets Growth 34.40% 16.23% 27.81%
Earning Growth 96.64% 46.72% 4.77%

Pakistan[edit]

Dubai Islamic bank owns Dubai Islamic Bank Pakistan Limited (DIBPL). This bank is based in Pakistan and is one of the leading banks specialising in Islamic banking.[4] The bank commenced operations in 2006.

Dubai Islamic Bank's CEO is Junaid Ahmed who was previously part of the Dubai Islamic Bank International division.[5] He has been serving as CEO of DIB Pakistan since 2010.

External links[edit]

References[edit]

  1. ^ "#1,027 Dubai Islamic Bank". Forbes. May 2016. Retrieved 19 January 2017. 
  2. ^ Solovieva, Daria (29 July 2015). "Dubai Islamic Bank Rises Most in 3 Months on Second-Quarter Net". Bloomberg. Retrieved 17 January 2017. 
  3. ^ a b Antony Peyton (28 July 2016). "Dubai Islamic Bank selects Nasdaq BWise platform for risk and compliance". Banking Technology. Retrieved 7 March 2017. 
  4. ^ "Dubai Islamic Bank to open 25 new branches in Pakistan". Pakistan Today. 25 October 2011. Retrieved 17 January 2017. 
  5. ^ Rizvi, Muzaffar (6 September 2015). "DIB Pakistan bets big on aggressive growth strategy". Khaleej Times. Retrieved 17 January 2017.