Dubai Islamic Bank came into existence on 12th March 1975 and is one of the leading companies in UAE.
Image: company website
It is a public joint stock company that offers banking and insurance products and is based in Dubai, United Arab Emirates (UAE). Dubai Islamic Bank (DIB) is an Islamic Bank, which means that all its banking activities follow the Sharia (Islamic laws), that is to say, it follows Sharia compliant finance.
DIB in fact holds the distinction of being the first bank in UAE to start practicing all Islam principles and laws in its banking operations. With more than 60 branches in UAE itself, DIB currently holds the first position when it comes to being the largest Islamic bank in UAE. In terms of Market Capitalization, DIB is second only to Emirates NBD when comparing among all the banking sector companies listed on the Dubai Financial Market (DFM). DIB was listed on the DFM on March 26, 2000.
Owing to its success in UAE, DIB has also established its branches and partnerships internationally. Its wholly owned subsidiary DIB Pakistan Limited (DIBPL) started its operations in Pakistan in 2006. DIB Pakistan, like its parent company is into Islamic Banking, and has grown to 175 branches in over 60 cities in Pakistan. With offices in Turkey as well as clinching a banking license in Jordan, DIB has been expanding its network like never before. DIB currently has a paid-up capital of 3.9 billion Dirhams (AED). With its customer-centric approach in doing business, DIB is not foreign to awards and recognition. It has received the Best Retail Bank, Best Corporate Bank, Best Commercial Bank, Best Islamic Bank, Best Sukuk Arranger, and Best Car Finance among a flurry of other awards.