Dubai Islamic Bank opens three new branches in Dubai and Sharjah
- United Arab Emirates: Monday, December 29 - 2003 at 15:44
- PRESS RELEASE
Dubai Islamic Bank (DIB), the premium Islamic financial services institution in the Middle East, announced the opening of its three new branches in Dubai and Sharjah, raising the number of DIB branches in the UAE to 19.
Commenting on the bank's new drive, said Mr. Butti Khalifa Bin Darwish Al Falasi, Chief Executive Officer, DIB, said: "The opening of the new branches is a result of the DIB's expansion plans aimed at consolidating its presence across the UAE. The move is in response to increasing demand for DIB's banking services across the UAE and is also a reflection of DIB's commitment towards providing the best services to its clientele."
Mr. Darwish added: "Last year we had announced a comprehensive expansion plan to develop and set up a branch network across the UAE. Today, we want to reassure our customers that we are committed to fulfilling the promises, which will benefit their interests best and thereby contribute to developing the standards of the services the bank offers."
"Dubai Islamic Bank aims at providing the best banking services to all its customers at their convenient time and place, even outside working hours," said Mr. Saad Abdul Razak, Executive Director for Consumer Banking Services, DIB. "In an attempt to fulfill this objective, the bank has launched five branches during the past year, including a comprehensive self-service division that works around the clock. We are also working on increasing the number of self-service branches, and opening up special branches for women, similar to the women branch located in Jumeirah," he added.
"Dubai Islamic Bank will continue to strive to provide the best services through developing the current network and investing directly in setting up new branches. We are also investing in new technologies that facilitate banking procedures and ensure best services," said Mr. Abdul Razak.
The new branches will provide integrated banking services to retail and corporate customers, such as current and saving accounts, investment deposits and financing services, in addition to consultations and specialized financial advice.
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Sameh Hamtini / Sudha Chandran
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Dubai, UAE
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Established on 1975, Dubai Islamic Bank is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. It was founded with active assistance of the UAE Government, the Central Bank and people of the UAE.
The economic and business philosophy of Islam encourages generation and sharing of profits. However, it forbids giving or taking of interest. Dubai Islamic Bank is the first Islamic bank in the world to practically implement this concept. Leveraging the strengths of Islamic business and economic concepts on one hand and state-of-the-art banking technology on the other, DIB creates partnerships with its customers to generate profits, which are then shared with them. DIB has created a vast array of Islamic banking and finance products to suit suit every conceivable need of its customers.
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