DIB Continues Its Dominance in Islamic Finance securing Five Top Industry Awards

•    Awarded ‘Best Islamic Bank’, ‘Best Islamic Retail Bank’, ‘Best Islamic Corporate Bank’, ‘Best Sukuk Arranger’ and ‘CEO Award’

Dubai, UAE, 15 May 2017: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, continued its dominance of the Islamic finance sector bagging an impressive five ‘Industry Awards’ at a ceremony by CPI Financial, the publisher of Banker Middle East magazine held on May 11, 2017 at the Emirates Towers Hotel in Dubai. A clear indication of the bank’s leadership position in both the wholesale and consumer businesses, DIB once again received the Best Islamic Bank, Best Islamic Retail Bank, Best Islamic Corporate Bank & Best Sukuk Arranger accolades, effectively repeating its impressive feat last year. In addition, Dr. Adnan Chilwan, Group CEO of DIB was awarded with the coveted CEO Award – Excellence in Islamic Banking. 

DIB’s commitment to changing the way people perceive Islamic finance is a key driver of the bank’s success in developing the industry.  As Islamic finance continues to grow in the MENA region and worldwide, a challenge still often faced is the low level of public awareness and understanding of Islamic banking products and services. To be able to communicate the benefits that this type of banking presents, Islamic banks need to think from a fresh perspective, put forward propositions that differentiates them from competitors, and educate audiences. DIB’s innovative approach, recognized by these industry awards, pushes for this change in perceptions.  

Commenting on winning the awards, Dr. Adnan Chilwan, Group CEO of Dubai Islamic Bank, said: “Islamic finance is increasingly becoming a global phenomenon. The tremendous uptake in sector assets in typical and what are seen as atypical markets has actually led to regulatory reforms across the globe. This is a clear sign that the global financial markets are recognizing Islamic banking and finance as a serious segment which can not only compete head to head with its conventional counterpart but may surpass it in key markets.”  

“Ultimately, for DIB, it is about offering Islamic Finance products and services to every bankable client in the geographies we operate,” he added. We know that innovation, not just from the perspective of technology but also mindset and approach is critical if we are to succeed in shifting perceptions and attracting new customers across all segments.

“We are moving the needle when it comes to showing businesses and consumers the intrinsic value Islamic finance can bring to their daily lives, and as long as we continue to do this, the future looks very bright for the relatively nascent industry”.

The Banker Middle East Industry Awards are widely acknowledged as the most important recognition of financial excellence in the Middle East. The awards assess and recognize all banking and financial institutions that have witnessed excellent financial performance or transference of market share in the region. 
Reflective of DIB’s status as the leader in global Islamic finance, the Bank was also recently honored with two awards at the Banker Middle East Product Awards 2017. These included the ‘Best Car Loan’ and ‘Corporate Deal of the Year’.