DIB sets up Islamic finance facility with ABM-AMRO
Dubai Islamic Bank (DIB), ABN-AMRO and Dubai Metal and Commodities Center (DMCC) have established partnership to provide Islamic finance packages to companies specializing in gold and diamond trade.
The alliance will leverage DIB's experience in Islamic financing, the gold and diamond industry knowledge of Dutch banking group ABN-AMRO, while DMCC will market the packages to its members.
ABN-AMRO's client base includes over 3,000 diamond clients world-wide. The Group has set up a dedicated diamond and jewelry business unit at its Dubai office a year ago in order to service the banking requirements of several of its global diamond clients who have set up operations in Dubai.
Established on 1975, DIB is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. It was founded with active assistance of the United Arab Emirates (UAE) Government, the Central Bank and people of the United Arab Emirates (UAE). — (menareport.com)
© 2003 Mena Report (www.menareport.com)
- Dubai Islamic Bank wins Islamic Finance News ‘Mudarabah Deal of the Year’ Award
- DIB’s “Smart Bank” set to redefine customer service
- Some 70 percent of DIB’s Lebanon property sold out
- EMICOOL signs AED 669 million Syndicated Islamic Finance facility to fund expansion project
- World Bank sets up $400 facility to help SMEs in MENA