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Dubai Islamic Bank launches Al Islami Auto Finance offers

  • United Arab Emirates: Sunday, June 14 - 2009 at 12:25
  • PRESS RELEASE

Dubai Islamic Bank (DIB), one of the largest Islamic banks in the UAE, has announced that it is offering auto finance under Al Islami Auto Finance, and is available for up to 72 months.

No down payment or salary transfer is required to avail of this offer, which covers both new and pre-owned vehicles.

This attractive financing demonstrates the bank's generally positive outlook as well as its strong liquidity position, and is in line with its expansion plans announced earlier this year. By the end of this year, DIB will open 10 new branches, expanding its nationwide network to 64 branches, further strengthening its presence across the UAE, while also offering an overall enhanced customer experience.

Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB, said:
"As the provider of auto finance for one in every three cars financed in the UAE, Al Islami Auto Finance has long been the leading solution of choice for consumers here."


He added, "In today's highly competitive market, the bank has recognised the need for flexible auto finance options - which is why we are very pleased to announce this extremely attractive offer that provides a host of valuable benefits."

DIB has the country's largest team of qualified auto finance professionals, many of whom are available directly at dealer locations. The bank offers an unmatched range of Sharia-compliant auto financing solutions - along with value-added services such as insurance finance and service contract finance - at extremely competitive profit rates, catering to a broad cross-section of the UAE population.
Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB.
Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB.
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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 and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed 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.

The bank currently operates 57 branches in the UAE. As part of its expansion plans announced in early 2009 and in line with its aim to ensure customer satisfaction through accessibility, DIB will increase its nationwide network to 64 branches by the end of this year. In addition to regular, full-service branches, DIB is also planning to launch Express Banking Centres, which will provide fast, efficient services to DIB customers at various convenient locations like shopping malls, hypermarkets and megastores

By the end of 2009, DIB forecasts that the bank's total customer base will increase by approximately 15%, reaching some 900,000 customers, while its retail assets business will grow by approximately 20%.

DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB Pakistan Limited, a wholly owned subsidiary. DIB has also 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 in Emirates and Sudan Bank, as well as contributing to the launch of Jordan Dubai Islamic Bank.

DIB has won the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 34 awards that it has won in 2008 across diversified areas within banking, be it retail, corporate or investment banking. The bank was recently named "Best Islamic Bank" for the 4th consecutive year by Banker Middle East magazine. DIB has also received many awards from international organisations, such as the prestigious "Bank of the Year" award from The Banker (Financial Times), along with prestigious accolades from UK based Euromoney and NY based Global Finance magazines.

For further information, please contact:

Nicholas Nesson / Ghaleb Zeidan / Gunjan Chaurasia
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080

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