Dubai Islamic Bank voted ‘Best Islamic Bank’ at Banker Middle East Industry Awards 2012

Dubai Islamic Bank (DIB) announced today that it has been named the region’s “Best Islamic Bank” at the Banker Middle East Industry Awards 2012, held in Dubai on June 12, 2012. 

The Banker Middle East Industry Awards recognise the best performing financial services institutions across the Middle East and North Africa. A panel of well-respected industry experts shortlist the nominees and the winners are selected through online voting by more than 10,000 registered users of Banker Middle East.  

“The role of Dubai Islamic Bank as both a pioneer and leader in the rapidly growing Islamic Banking sector has once again been recognised,” said Dr. Adnan Chilwan, Deputy Chief Executive Officer, DIB. “This award caps a great first half of the year for the bank, where our focus on innovation, expansion and efficiency has reaffirmed DIB’s position as not only the UAE’s, but also the region’s leading Islamic bank.” 

“Going forward, we will capitalise on our strong fundamentals and sector knowledge to continue expanding and providing our customers with the best possible Islamic Banking experience and products,” added Dr. Chilwan. 

Earlier this year, DIB was named among the “Deals of the Year for 2012” by The Banker, a Financial Times publication. DIB was recognised in the “Structured Finance” category for its role as the Islamic arranger of a US$800 million Wakala Syndicated Financing for Salik One, the entity created to monetise road toll receipts in order to fund long-term infrastructure development in Dubai. DIB has been involved in a number of high profile Sukuk in 2012, including Jebel Ali Free Zone’s $650 million, seven-year Islamic bond; a $1.04 billion facility for DIFC Investments; a $1 billion Trust Certificate Issuance Programme for Majid Al Futtaim Group; as well as the bank’s own recent $500 million Islamic bond issue. 

DIB continued to deliver strong financial results over the past year, reporting a net profit of AED 1.01 billion for the 12 months ending December 31, 2011. The year also witnessed the bank further expand its physical presence across the UAE, opening a total of seven new branches in 2011.