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"As one of the UAE's top five banks and the world's third largest Sharia-compliant bank, Dubai Islamic Bank continues to set new standards for excellence at home and across the globe. We are very pleased to present 2008 financial results to our shareholders, and to be able to provide them with a generous share of the bank's success. We look forward to their continued support in 2009 and in the years to come."
said His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler's Court of Dubai and Chairman of Dubai Islamic Bank.
"While there is no doubt that the current challenges to the stability of the global financial system are without precedent in our lifetimes, Dubai Islamic Bank will strive to repeat the success of previous years by focusing on offering our retail and institutional clients the most innovative financial products and services," he said. "Even more important, the bank will sustain its commitment to contributing to the ongoing growth, stability and diversification of the UAE and all the markets we serve."
DIB will continue to build upon its many achievements in 2008, including the launch of its legal subsidiary, Dar Al Sharia Legal & Financial Consultancy LLC; a new joint venture with Jordan Dubai Capital and Dubai International Capital, via a strategic investment in Industrial Development Bank, which is to be converted into "Jordan Dubai Islamic Bank".
The bank's current growth strategy - with a renewed focus on its already robust retail operations - will deliver significant results. By the end of this year, the bank expects to record a 15% increase in its customer base, reaching some 900,000 customers, while the bank's retail assets business will grow by approximately 20%.
Posted by Rima Ali Al Mashni
