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PRESS RELEASE<\/span><\/p>\n<\/p>\n Dubai Islamic Bank Group eyes Pakistan as a key growth market in 2017<\/p>\n Dr. Adnan Chilwan, Group Chief Executive Officer unveils the new expansionary agenda in staff town halls held at Karachi and Lahore<\/p>\n The GCEO and Board\u2019s visit reiterates DIB Group\u2019s commitment to the country and the Bank\u2019s operations across the nation<\/p>\n Karachi, Pakistan; May 11, 2017:<\/strong> A high powered delegation which included Dubai Islamic Bank\u2019s Group Chief Executive Officer Dr. Adnan Chilwan, Board members and senior management held key meetings with the bank\u2019s local management to ascertain the current status and future plans. The GCEO hosted two town halls in Karachi and Lahore to a wider audience of more than 1200 staff where he commended the performance given by the bank in 2016, a year that witnessed a 2-fold increase in profitability. Whilst highlighting the successes of DIB at both the Group and country level, Dr. Chilwan also outlined a detailed 2017 growth strategy for the franchise in the country. This newly defined approach repositions the Bank\u2019s medium term plans alongside the transformational growth the<\/p>\n Group has achieved in the last few years and effectively aligns the local franchise with DIB Group\u2019s overall positioning.<\/p>\n Speaking on the occasion, Dr Chilwan said: \u201cPakistan is a strategic country for DIB Group and the franchise here is an integral part of our ever-expanding global operations. Over the last few years, our consolidated performance at the group level has been highly impressive despite the challenges in the region with regards to liquidity, lower oil prices and general economic slowdown. A thorough reconstitution of the balance sheet in 2016 which included a revamp of funding sources and deployment avenues has not just resulted in significantly enhanced profitability but has also positioned the franchise to take advantage of the positive macroeconomic environment in the country and grow exponentially.\u201d<\/p>\n \u201cAt DIB, we are absolutely clear that the reason for our success and that of Islamic finance in general in the UAE, has been the fact that we are overall market players, not niche focused,\u201d he added. \u201cThis unwavering belief has been critical to the evolution of both Islamic finance as well as the bank in the country where we today enjoy more than 6% share of the overall banking sector and nearly 40% of the Islamic pie. As long as we see every customer, corporate or retail, as a potential client, there is only one direction for us – NORTH. I congratulate you all on the bank\u2019s recent performance and look forward to your commitment and focus as we together make Islamic banking and finance, a norm rather than an alternative\u201d.<\/p>\n Junaid Ahmed, CEO DIB Pakistan said: \u201cDIB Group has a rich and dynamic history panning more than four decades. As a pioneer of modern Islamic banking, the bank is viewed as the key influencer in the progression and advancements in the field of Islamic finance. From establishment of operations just 11 years ago to a franchise that boasts more than 240 locations across 62 cities in Pakistan, is phenomenal growth indeed and something we are all extremely proud of. Today\u2019s gathering is a clear reflection of the Group\u2019s commitment to the local franchise in Pakistan as we endeavor to strengthen and grow our business in this market. I would like to thank Dr. Adnan Chilwan, and the senior colleagues from the Group for their continuous support and wish all of you many more successful years ahead\u201d.<\/p>\n Dubai Islamic Bank (DIB) was established in 1975 as the world\u2019s first Islamic Bank in the UAE. With Group assets of USD 50 bln, a market capitalization of around USD 7.0bln, and workforce of more than 8000 employees within the group, the organization is fast being recognized as a formidable force in Islamic Finance and one of the most progressive Islamic Finance institutions in the world. Currently, DIB has presence across all emirates in the UAE with growing international operations in South Asia, Far East, Middle East, Europe and Africa,<\/p>\n About Dubai Islamic Bank:<\/strong><\/p>\n Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world\u2019s first full service Islamic bank and the fourth largest Islamic bank in the world. The Bank currently operates 90 branches across the UAE, is present in seven markets worldwide and is expanding its global footprint to further grow and develop the industry. Serving close to 1.7 million customers, DIB offers its growing consumer base an increasing range of innovative Sharia compliant products and services.<\/p>\n DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which has a network of more than 240 locations across 62 major cities in Pakistan. DIB also received regulatory approval to increase its shareholding in PT Bank Panin Syariah in Indonesia to 40 percent.<\/p>\n Embarking on a newly established growth agenda in 2014, the Bank has been a leading performer in the UAE financial sector over the last three years with record breaking performance despite volatile market conditions. The massive growth has seen DIB\u2019s market share cross over 6%, the financing book nearly doubling and deposits growing by over 50% during the same period. Even more impressive is the more than 100% growth in profits in the last three years as DIB joined the exclusive USD 1 bln profit club in the country.<\/p>\n The Bank\u2019s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking for businesses and consumers worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. Consequently, DIB has been recognized as \u201cBest Islamic Bank in the UAE” at the 2016 World Finance \u2013 Islamic Finance Awards, and has received four major accolades at the 11th Islamic Business and Finance Awards 2016, including \u201cBest Retail Bank in the UAE, Best Corporate Bank in the UAE, Best Sukuk Arranger and Best Islamic Bank\u201d. In addition to the \u201cBest Sukuk House\u201d awarded at the EMEA Middle East Banking Awards 2016, DIB was also honored with record twelve accolades at the Islamic Finance News Awards 2016, receiving among the awards \u201cBest Overall Islamic Bank\u201d and \u201cBest Islamic Bank in the UAE\u201d for the second consecutive year. These awards were in addition to the eight landmark transactions the Bank was recognized for at the 2016 IFN \u201cDeals of the Year\u201d Awards including \u201cUAE Deal of the Year\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":" PRESS RELEASE Dubai Islamic Bank Group eyes Pakistan as a key growth market in 2017 Dr. Adnan Chilwan, Group Chief Executive Officer unveils the new expansionary agenda in staff town halls held at Karachi and Lahore The GCEO and Board\u2019s visit reiterates DIB Group\u2019s commitment to the country and the Bank\u2019s operations across the nation … <\/p>\n