DIB wins Global Islamic Business Award

Dubai / Emirates Business

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded the Global Islamic Business Award in the first ever edition in the region. The award was presented by His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai to Dr Adnan Chilwan, Group Chief Executive Officer, Dubai Islamic Bank. It was presented as part of the 23rd edition of the Business Excellence Awards at a ceremony earlier this month in recognition of outstanding pursuits of excellence.
The presence of both His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai International Marine Club (DIMC), not only points to the significance of the event but also highlights the extreme importance and unwavering focus the leadership of Dubai has on establishing the emirate as the undisputed leader of the global Islamic economy.
Launched in 2016, The Global Islamic Awards are led by the Global Islamic Business Excellence Center (GIBEC), an initiative of Dubai Economy. The awards were initiated to encourage Islamic economic activity and more holistically benefit society. Given the objective of the award, participating companies included not only Islamic financial institutions but firms from the real estate, food and other core market sectors. The development of the wider Islamic economy is expected to attract new foreign direct investment and further promote economic and business sustainability across the UAE.
“This is indeed an extremely proud moment for the bank”, said Dr. Adnan Chilwan, Group CEO DIB. “Our goal since the humble beginnings more than forty years ago was to establish Islamic banking and finance, not just as a viable alternative, but perhaps the more favored one. I personally, and all of us here at DIB truly see ourselves as fortunate and blessed to have the support of the leadership of the emirate. The focus of the Government of Dubai in establishing the emirate as the global capital of Islamic economy is without doubt a major factor in the exponential growth witnessed by the Islamic finance industry over the years. Today, the sector has become the cornerstone of the financial sector in the country and is ready and poised to support the other business segments within the wider Islamic economy.”
Dubai Islamic Bank maintains its dominance in the Islamic space in the country as the largest Islamic bank in UAE and amongst the top four banks in the country. The bank has been a leading performer over the years with growth far outpacing the market, primarily stemming from a focused enhancement of core businesses and increasing share of wallet in both wholesale and consumer segments. Today, DIB remains as one of the best positioned players to navigate the challenges in the global macroeconomic environment and pursue its growth agenda.