DMI shareholders increase capital by $100m

In making the announcement, DMI management thanked, on behalf of DMI, its subsidiaries and associates - mainly Ithmaar Bank of Bahrain, Islamic Investment Company of the Gulf (Bahamas) and Faisal Islamic Bank of Egypt - the holders of EPCs for their confidence - despite the global financial crisis and the subsequent economic challenges. The DMI management team said they remain firmly committed to continuously improving both shareholder and investor confidence and will continue to build upon the proud Islamic banking legacy that DMI started in July 1981.

The increase of capital will be used to reinforce DMI's position as a global Islamic banking powerhouse, increase the scope of its Islamic banking products, develop the necessary resources and finance the expansion of its subsidiaries and associates. In doing, DMI intends to further improve returns for its shareholders and investors.

The increase capital was raised from DMI's existing 7,500 holders of EPCs who come from across the world - including the Middle East, Asia, Africa and Europe. DMI EPCs are not tradable but holders of EPCs can buy and sell EPCs among themselves.

Since its establishment in 1981, DMI has grown into grown, steadily, into a major global financial institute with an extensive network of well-integrated regional subsidiaries that enable it to respond to local business needs and conditions.

Following the announcement, Group Chief Executive Khalid Abdulla-Janahi thanked the holders of EPCs and Investors for their firm and effective confidence and assured them that the Group will maintain and enhance its commitment to further success and excellence.