DIB named Best Islamic Bank for fifth consecutive year

Published March 21st, 2010 - 03:22 GMT

Dubai Islamic Bank (DIB) announced today that it received an impressive four awards at the 2009 Annual Islamic Finance News Awards, including the coveted “Best Islamic Bank in the UAE” award.

During the ceremony on March 8, 2010, at Jumeirah Emirates Towers in Dubai, DIB received awards for “Syndicated Deal of the Year” for its deal with Saudi Bin Ladin Group Multi-Purpose Islamic Credit Facility, which covers multiple guarantee and cash facilities on a Sharia-compliant basis; “Wakalah Deal of the Year” for the IFC Hilal Sukuk al-Istithmar, the inaugural issuance of the International Finance Corp; and “Best Sharia Advisory Firm” for its commitment to offering financial solutions that adhere to Sharia principles.

“I am delighted to announce that once again Islamic Finance News has named DIB ‘Best Islamic Bank in the UAE,’” said Abdulla Al Hamli, Chief Executive Officer, DIB. “As the world’s first Islamic bank, DIB is committed to providing a range of innovative Islamic banking services in the UAE and beyond. As the UAE and the wider region continues to recover from the impact of the global financial crisis, we are confident that DIB will play a key role in Sharia-compliant transactions and will continue to strengthen its own leadership position.”

The Islamic Finance News Awards honours the best in the Islamic financial industry. It is one of the most prestigious awards and highly recognised by the global Islamic capital markets. Established in 2005, The Islamic Finance News Polls continue to be an apt representation of the current Islamic financial market landscape and is the industry’s leading and most comprehensive annual poll.

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