DIB was also awarded at the exhibition for bringing its level of Emiratisation to 45 per cent of its total work force, the highest in the banking sector across the country.
His Highness Dr. Sheikh Sultan bin Mohammed Al Qassimi, Ruler of Sharjah and Member of the UAE Supreme Council, presented the award to Saad Abdul Razak for his contribution to the country's human capital and, in particular, for enhancing the role of UAE nationals in the banking sector. Under Abdul Razak's guidance, DIB has proved highly successful in attracting, recruiting, developing and retaining the best UAE national talent.
At the ceremony, Abdul Razak said: "On behalf of DIB, I am delighted to receive this prestigious award, which reflects the bank's pioneering efforts in guiding national employees in their careers and educating them about the various opportunities for their ongoing professional development."
"Backed by 30 years of expertise and a global reputation for excellence, DIB helps to upgrade individual skills and management expertise, with an ultimate view to creating professional leaders who can inspire, innovate and lead," he added.
He concluded: "DIB currently provides a range of courses that assist in developing our national employees. Such courses include English Banking skills, Customer Service skills, and many others. As well, DIB provides of a number of professional development programmes to which prestigious international and local consultancy firms contribute."
The ongoing success of DIB has been spearheaded by UAE nationals, which is evident from the fact that the leadership of DIB is predominantly local. One hundred per cent of DIB branch managers, across 38 branches, are UAE nationals. Last year, the bank added 18 new branches, with 80 per cent of the staff comprised of UAE nationals, including 100 per cent UAE nationals in the "Johara" ladies branches.
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H.H. Dr. Sheikh Sultan Al Qassimi presents Emiratisation award to Dubai Islamic Bank CEO
- United Arab Emirates: Monday, March 05 - 2007 at 16:18
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Dubai Islamic Bank's (DIB) Group Chief Executive Officer received today the "Best Emiratisation CEO Award" as part of the Ninth National Careers Exhibition being held at the Expo Centre in Sharjah from March 5-8, 2007.
His Highness Dr. Sheikh Sultan bin Mohammed Al Qassimi, Ruler of Sharjah and Member of the UAE Supreme Council, presents the "Best Emiratisation CEO Award" to Saad Abdul Razak, CEO of Dubai Islamic Bank Group.
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Posted by Janeta Novakovic, Assistant News EditorMonday, March 05 - 2007 at 16:18 UAE local time (GMT+4)
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This article was updated on Thu Mar 08 2007.
Notes and Media Contacts »
About Dubai Islamic Bank:
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices. DIB is a public joint stock company and its share is quoted on the Dubai Financial Market.
The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector.
The bank reported AED 1.56 billion in net profit for the year ended December 31, 2006 rising by 47% compared to AED1.06 billion for the year ended December 31, 2005. The profit for 2006, including depositors' profits, stood at AED 3.3 billion, an increase of 65% compared to AED 2 billion for the year ended December 31, 2005. Total assets in 2006 reached to AED 64.5 billion reporting an increase of 50% compared to AED 43 billion in 2005.
In the retail area, DIB launched a wide range of products including "Al-Islami Personal Finance" -; "Al Islami Credit Cards"; and many others. DIB also launched a series of investment funds including the 3-year Capital Protected DFM Note, the Capital Protected CLIP Note, Al Islami Shipping Fund, Al Islami Capital Protected CROCI Note, GCC Equity Fund, Al Islami Saving Scheme, Pan European Real Estate Fund, US Real Estate Fund and two French Real Estate Funds
DIB has been in an expansion mode and its branch network in the UAE will reach 53 branches by the end of 2007. By the end of 2007, DIB's branch network will have grown by 340% since 2002, when it had only 12 branches, which makes it the fastest growing branch network in the UAE. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. DIB opened its first representative office in Turkey to improve its access to that market. DIB has also acquired 60 per cent of its stake in Al Khartoum Bank and is also among the parents banks of Emirates and Sudan Bank (ESB).
The bank has recently announced the breaking of another world record by raising US$3.52 billion Sukuk for the Nakheel Group. This Sukuk adopted a 1st of its kind structure never used before in Islamic or conventional banking history.
Investment in human capital has always been on DIB's priority list. DIB's ongoing Emiratisation programme and investment in human capital have led to 45 per cent of the bank's workforce being UAE national. This makes DIB achieve the highest percentages of Emiratisation in the industry.
For further information, please contact:
Nicholas Nesson / Bakul Gala / Tarek Fleihan
Mobile: (+97150) 4785324 / 2459547 / 5198511
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3355969
Fax: +971-4-3344556
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices. DIB is a public joint stock company and its share is quoted on the Dubai Financial Market.
The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector.
The bank reported AED 1.56 billion in net profit for the year ended December 31, 2006 rising by 47% compared to AED1.06 billion for the year ended December 31, 2005. The profit for 2006, including depositors' profits, stood at AED 3.3 billion, an increase of 65% compared to AED 2 billion for the year ended December 31, 2005. Total assets in 2006 reached to AED 64.5 billion reporting an increase of 50% compared to AED 43 billion in 2005.
In the retail area, DIB launched a wide range of products including "Al-Islami Personal Finance" -; "Al Islami Credit Cards"; and many others. DIB also launched a series of investment funds including the 3-year Capital Protected DFM Note, the Capital Protected CLIP Note, Al Islami Shipping Fund, Al Islami Capital Protected CROCI Note, GCC Equity Fund, Al Islami Saving Scheme, Pan European Real Estate Fund, US Real Estate Fund and two French Real Estate Funds
DIB has been in an expansion mode and its branch network in the UAE will reach 53 branches by the end of 2007. By the end of 2007, DIB's branch network will have grown by 340% since 2002, when it had only 12 branches, which makes it the fastest growing branch network in the UAE. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. DIB opened its first representative office in Turkey to improve its access to that market. DIB has also acquired 60 per cent of its stake in Al Khartoum Bank and is also among the parents banks of Emirates and Sudan Bank (ESB).
The bank has recently announced the breaking of another world record by raising US$3.52 billion Sukuk for the Nakheel Group. This Sukuk adopted a 1st of its kind structure never used before in Islamic or conventional banking history.
Investment in human capital has always been on DIB's priority list. DIB's ongoing Emiratisation programme and investment in human capital have led to 45 per cent of the bank's workforce being UAE national. This makes DIB achieve the highest percentages of Emiratisation in the industry.
For further information, please contact:
Nicholas Nesson / Bakul Gala / Tarek Fleihan
Mobile: (+97150) 4785324 / 2459547 / 5198511
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3355969
Fax: +971-4-3344556
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