DIB concludes seventh annual Iktassib training programme

Dubai Islamic Bank is a Sharia-compliant financial institution. As such, please refrain from using any of the following terms in reference to the bank and its activities:
• Loan
• Lender / Lending / Lend
• Borrower / Borrowing / Borrow
• Credit facility
• Advance
• Interest

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.

In the first half of 2008, the bank's net profit reached Dhs1.303bn, an increase of 47% compared to Dhs888m for the corresponding period last year. At the end of the first six months of this year, the bank's total assets stood at Dhs91.4bn, up 21% compared to Dhs75.5bn at the end of first half of 2007. Financing and investment activities increased 34% in the first half of 2008, reaching Dhs60.8bn, up from Dhs45.3bn in the same period of 2007. Customer deposits showed strong growth of 22%, reaching Dhs72.8bn in the first half of 2008, compared to Dhs59.7bn in the first half of 2007.

DIB set a world record by raising a $3.52bn sukuk for the Nakheel Group. This sukuk adopted an innovative structure never used before in Islamic or conventional banking history.

The bank has been proactive in creating partnerships and alliances at both the local and international level. DIB has adopted 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 enhance its access to that market. DIB has also acquired a stake in Al Khartoum Bank and a stake in Emirates and Sudan Bank (ESB). These steps mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.

DIB has won the respect of its peers around the world. The bank was recently named by Islamic Finance News the UAE's Best Islamic Bank. DIB has also received many awards from international organizations, such as the prestigious "Bank of the Year - UAE" award from The Banker magazine and additional accolades from Euromoney.

For further information, please contact:

Nicholas Nesson / Ghaleb Zeidan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3355969
Fax: +971-4-3356080

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