DUBAI ISLAMIC BANK LOOKS TO LIBYA FOR GROWTH
Dubai Islamic Bank (DIB) has announced it is looking at expanding its business in Libya and will participate in an exhibition for UAE-based companies as part of its growth plans.
The bank will promote its financial packages at the ‘UAE in Libya’ event taking place from 27-30 November, when companies looking to break into re-opened markets will converge on Tripoli as part of the government-backed event.
Commenting on DIB’s participation, Jassim Rasool, Senior Manager, DIB, said: “There are huge business opportunities in Libya. The Islamic financial products offered by DIB are also expected to appeal to Libyan businesses due to the strong commercial and cultural ties that exist between them and their UAE counterparts.”
He added: “DIB continue to set new records as the bank consistently achieves year-on-year growth across its core businesses. These qualities have all been demonstrated as it has diversified its activities and geographic coverage through a series of strategic partnerships and alliances.”
‘UAE in Libya’ has already attracted nearly 70 UAE-based organisations, with participating companies hailing from a diverse mix of industries and fields including manufacturing, medical and health, food and education.
The exhibition is organised by Dubai Chamber of Commerce & Industry, Jebel Ali Free Zone Authority and Dubai Department of Tourism and Commerce Marketing. It is also backed by official carrier Emirates Airline and main sponsor Arab Bank for Investment and Foreign Trade.
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