Mr. Saad Abdul Razak will take up his new appointment on April 7 of this year, a move that will see him step up from deputy CEO - DIB. The board of directors at DIB accepted the resignation of Mr. Butti, who is leaving the bank for personal reasons.
On the occasion, Butti bin Darwish Al Falasy said: "Working at Dubai Islamic Bank has been a rich and successful experience in all its aspects in which the bank achieved several important achievements. I decided to resign from my position for personal reasons. I would like on this occasion to grasp opportunity to thank the board of directors at DIB for the precious trust they put in me, and I wish the bank and all its employees the best of luck."
The board's statement recorded their confidence in the abilities of the bank's management and employees to continue the success DIB witnessed, where the bank has positioned itself as a leader in Islamic banking in the region. The statement said: "The board of directors at DIB has every confidence that with the leadership and management of the bank, DIB will not only maintain the growth and very high standards it has set but will also be driven to reach new heights of achievements."
Browse
related articles
DIB appoints new CEO
- United Arab Emirates: Wednesday, March 09 - 2005 at 13:00
- PRESS RELEASE
Dubai Islamic Bank (DIB) today announced that Mr. Saad Abdul Razak had been appointed Chief Executive Officer of the bank to succeed Mr. Butti Al Falasy who submitted his resignation lately.
Also consider reading:
Digg
Facebook
LinkedIn
Twitter
Browse
related articles
Today's most read articles:
- » Qatari Diar announces joint venture with Deutsche Bahn to develop Qatar's railway network
- » The office sector in the GCC still experiencing strong growth, according to new research
- » Emaar merger talks 'done in one month'
- » Gold demand remains robust as economic conditions improve
- » Outback Steakhouse opens in Riyadh, KSA
Log in to request more information from Dubai Islamic Bank (DIB)
Notes and media contacts
For further information, please contactSameh Hamtini/ Khaled Abdulla
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
About Dubai Islamic Bank
Dubai Islamic Bank (DIB), which was established in 1975 as a publicly owned company, is the first Islamic bank to have incorporated the principles of Islam in all its practices.
The bank now enjoys a reputation as a leader and innovator in its specialist area and is noted for 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.
The bank has been proactive in creating partnerships and alliances at local and international level and has shown its outstanding capabilities by being appointed to provide specialist financial solutions for huge developmental projects within the UAE, one of which led to the world record $1 billion Sukuk Al Ijara. The issue was arranged for the Government of Dubai Department of Civil Aviation to raise funding for the second phase of the expansion of Dubai International Airport. The bank also lead managed and arranged $350 million Ijara syndication for Nakheel. The financing made further capital available to build on Nakheel's blue chip portfolio of developments such as The Palm and others in Dubai.
Posted by Anne-Birte Stensgaard, Senior News EditorWednesday, March 09 - 2005 at 13:00 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue Mar 13 2007.
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
It looks like you are using a Mac - check out our 
Web Feeds