About Dib United Arab Emirates
We are talking about the Dubai Islamic Bank which is known for providing banking and insurance products in UAE since 1975. The bank is known for working by incorporating all the principles of Islam thus being the first Islamic bank to do so.
It is also considered as the largest Islamic bank in the United Arab Emirates.
The bank came into existence on 12th March 1975 after being issued by H.H. Shaikh Rashid bin Saeed Al Maktoum and is headquartered in Dubai, United Arab Emirates.
Its first corporate office was located in Deira followed by its first branch in Murshid Bazar, Bur Dubai. The bank has worked on its expansion since past decades showing its presence in UAE with 90 branches and serving close to 1.7 million customers.
The bank has also joined its hands with Dubai based developer Nakheel to form a property joint venture company named Tashyed with a start-up capital of USD 544.5 million.
What they offer in market?
In the market, they offer a range of Sharia-complaint products and services which
include retail, corporate, private, consumer and investment banking with contracting and real estate finance.
The bank is working on to make Islamic finance the norm rather than opting for conventional banking worldwide. Moving on this goal they have established DIB Pakistan Limited and have launched Panin Dubai Syariah Bank in Indonesia in 2017 followed by obtaining a license for DIB Bank Kenya Limited in May 2017.
What makes them special?
Dubai Islamic Bank considers interest as playing no role in its banking services which has thus brought the people from all around the world to put their faith in the bank.
They don’t work on interest as a way to generate wealth because they show their presence as unique in the way of helping customers as well as businesses to build assets for themselves. This method has brought the way to prosperity on the economic base by encouraging the spirit of entrepreneurship in its customers.
They also encourage investment by adopting Sharia structures thus introducing customers not just as customers but as partners in the bank.
They also work for female customers providing them special banking facilities and are on the way to forbid the use of finances for purposes that may harm society.