The MOU was signed by His Excellency Dr. Mohammed Khalfan Bin Kharbash, Minister of State for Finance and Industry-UAE, and Chairman of DIB; Sultan Ahmed Bin Sulayem, Chairman of Dubai World; and Azim Premji, Chairman of Wipro Ltd.. The agreement was signed in the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, the UAE official delegation accompanying Sheikh Mohammed, top officials in India.
The strategic relationship will aim to capitalize on the fast-growing economy of Dubai and the UAE and its requirements for world-class technology solutions & infrastructure. The partnership will provide unique, specialized and integrated solutions that address the needs of business to help organizations leverage leading edge technologies for business improvement and superior customer service. The gamut of services will extend to serve clients from a range of industries including energy and utilities, finance, telecommunications, media and entertainment.
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Dubai World, Dubai Islamic Bank, Wipro Infotech announce a strategic partnership in IT services
- United Arab Emirates: Tuesday, March 27 - 2007 at 16:23
- PRESS RELEASE
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Dubai World, one of the world's largest holding companies, Dubai Islamic Bank (DIB), the world's premier Islamic financial institution, and Wipro Infotech, the India Middle East and Asia Pacific IT Business of Wipro Ltd (NYSE:WIT), announced the signing of a Memorandum of Understanding (MoU) to establish a strategic IT services partnership in Dubai.
From right to left: Dr. Mohammed Khalfan Bin Kharbash, Minister of State for Finance and Industry-UAE, and Chairman of DIB; Sultan Ahmed Bin Sulayem, Chairman of Dubai World; and Azim Premji, Chairman of Wipro Ltd. Also present in the photo Sheikha Lubna Al Qasimi, Minister of Economy-UAE, as well as top officials in India.
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Posted by Lara Lynn Golden, News EditorTuesday, March 27 - 2007 at 16:23 UAE local time (GMT+4)
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This article was updated on Sat Apr 21 2007.
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About Wipro
Headquartered in Bangalore, India, Wipro Technologies is the No.1 provider of integrated business, technology and process solutions on a global delivery platform. Wipro delivers technology-driven business solutions that meet the strategic objectives of various clients. Wipro creates solutions around specific needs of industries and provides unmatched business value to customers through a combination of process excellence, quality frameworks and service delivery innovation. Wipro is also the largest independent Research & Development services provider in the world.
About DIB:
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 has been proactive in creating partnerships and alliances at local and international level. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. The bank has also co-managed Pakistan's US$600 million first Sovereign Islamic bond issue that received a tremendous response from investors.
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 steps taken mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.
DIB has also shown its outstanding capabilities by being appointed to provide specialist financial solutions for huge developmental projects including the Dubai Ports, Customs & Free Zone Corporation (PCFC) $3.5 billion Sukuk, the world's largest, and Dubai's Department of Civil Aviation US$1 billion Islamic bond issue. The issue was arranged to raise funding for the second phase of the expansion of Dubai International Airport. The bank also managed financing of US$350 million for Nakheel. The financing made further capital available to build on Nakheel's blue chip portfolio of developments such as The Palm in Dubai.
For further information, please contact:
Nic Nessson / Tarek Fleihan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
Headquartered in Bangalore, India, Wipro Technologies is the No.1 provider of integrated business, technology and process solutions on a global delivery platform. Wipro delivers technology-driven business solutions that meet the strategic objectives of various clients. Wipro creates solutions around specific needs of industries and provides unmatched business value to customers through a combination of process excellence, quality frameworks and service delivery innovation. Wipro is also the largest independent Research & Development services provider in the world.
About DIB:
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 has been proactive in creating partnerships and alliances at local and international level. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. The bank has also co-managed Pakistan's US$600 million first Sovereign Islamic bond issue that received a tremendous response from investors.
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 steps taken mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.
DIB has also shown its outstanding capabilities by being appointed to provide specialist financial solutions for huge developmental projects including the Dubai Ports, Customs & Free Zone Corporation (PCFC) $3.5 billion Sukuk, the world's largest, and Dubai's Department of Civil Aviation US$1 billion Islamic bond issue. The issue was arranged to raise funding for the second phase of the expansion of Dubai International Airport. The bank also managed financing of US$350 million for Nakheel. The financing made further capital available to build on Nakheel's blue chip portfolio of developments such as The Palm in Dubai.
For further information, please contact:
Nic Nessson / Tarek Fleihan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
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