The event will take place in cooperation with the Islamic Development Bank and Islamic Universities League. Prominent personalities in the field of Islamic finance will attend the forum, which will feature eight discussion sessions on the development of Islamic banks. Dr Abdullah bin Abdul Mohsin Al-Turki, General Secretary of Muslim World League, Chairman of Islamic Universities League, will be the main speaker at the forum.
This was announced today at a press conference held at DIB's main building. Mr. Ahmed Al Sirkal, Head of the forum's organising committee, and Dr. Shaikh Hussein Hamid Hassan, Fatwa and Shariah Supervisory Board, DIB, were present at the press conference.
Mr. Al Sirkal said: "The bank's initiative in organising and supervising the event comes in line with DIB's leading role in the field of Islamic banking. DIB, established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices."
He added: "The bank enjoys a reputation as a leader and innovator in maintaining 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."
Dr. Shaikh Hassan said: "More than 30 research papers are expected to be presented at the forum. The themes will concentrate on development of the Islamic banking sector as well as future prospects and challenges for the industry." Dr. Shaikh Hassan pointed out that he will present a paper on DIB's experience in the Islamic banking sector.
He added: "Prominent personalities including top bankers, Islamic scholars, economic experts, as well as officials from both Islamic and commercial banks are expected to attend the forum."
Highlighting the themes of the sessions, Dr. Shaikh Hassan said: "Three session will be held on the first day. They will discuss the launch of Islamic banking services, experiences of Islamic banks, and building new relations between the Islamic Development Bank, Islamic Banks, and traditional banks. Relations between official organisations and Islamic banks are among the themes expected to be discussed on the second day of the conference. Final recommendations will also be issued on the third day by a special committee after the forum's conclusion."
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Dubai Islamic Bank announces launch of a three-day conference on Islamic finance
- United Arab Emirates: Tuesday, August 30 - 2005 at 14:52
- PRESS RELEASE
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Under the patronage of H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Industry, Dubai Islamic Bank (DIB) announced that it will organise a three-day forum on Islamic finance from September 3 - 5, 2005 at Meridian Hotel, Deira, Dubai.
From left to right: Mr. Ahmed Al Sirkal, Head of the forum's organising committee, and Dr. Shaikh Hussein Hamid Hassan, Fatwa and Shariah Supervisory Board, DIB.
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Posted by Anne-Birte Stensgaard, Senior News EditorTuesday, August 30 - 2005 at 14:52 UAE local time (GMT+4)
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This article was updated on Sat Feb 17 2007.
Notes and Media Contacts »
For further information, please contact:
Sameh Hamtini/ Tarek Fleihan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices.
DIB is a public joint stock company and its share is quoted 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. 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's recent financial results confirm the strength of its balance sheet and profitability. Figures for the year ending December 2004 reported a 36 per cent increase in net profits including depositors' profits, to reach AED 1.02 billion (US$278 million) compared to AED 751 million (US$205 million) for 2003. The bank's assets at the end of December last year had grown 35 per cent in the same period to AED 30.8 billion (US$8.3 billion), against AED 22.8 billion (US$6.2 billion) for the equivalent year previously.
The bank has been proactive in creating partnerships and alliances at local and international level. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. The bank has also co-managed Pakistan's US$600 million first Sovereign Islamic bond issue that received a tremendous response from investors. The steps taken mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.
DIB has also 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 US$1 billion Islamic bond issue. The issue was arranged for the Government of Dubai's Department of Civil Aviation to raise funding for the second phase of the expansion of Dubai International Airport. The bank also managed financing of US$350 million for Nakheel. The financing made further capital available to build on Nakheel's blue chip portfolio of developments such as The Palm in Dubai.
Sameh Hamtini/ Tarek Fleihan
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices.
DIB is a public joint stock company and its share is quoted 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. 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's recent financial results confirm the strength of its balance sheet and profitability. Figures for the year ending December 2004 reported a 36 per cent increase in net profits including depositors' profits, to reach AED 1.02 billion (US$278 million) compared to AED 751 million (US$205 million) for 2003. The bank's assets at the end of December last year had grown 35 per cent in the same period to AED 30.8 billion (US$8.3 billion), against AED 22.8 billion (US$6.2 billion) for the equivalent year previously.
The bank has been proactive in creating partnerships and alliances at local and international level. DIB has adapted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. The bank has also co-managed Pakistan's US$600 million first Sovereign Islamic bond issue that received a tremendous response from investors. The steps taken mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.
DIB has also 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 US$1 billion Islamic bond issue. The issue was arranged for the Government of Dubai's Department of Civil Aviation to raise funding for the second phase of the expansion of Dubai International Airport. The bank also managed financing of US$350 million for Nakheel. The financing made further capital available to build on Nakheel's blue chip portfolio of developments such as The Palm in Dubai.
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