The program is targeted at training the UAE nationals in Islamic banking services. In all, 180 UAE nationals studying in schools, colleges and universities will undergo 2-months training that will end on 24th August 2006.
During the launch ceremony, Ahmad Al Serkal, Group Head - Human Resources, DIB, welcomed the students and enlightened them about DIB's operations, its Sharia'h-compliant products and various other services that the bank offers.
He emphasized the importance of this training program and said: 'DIB invests heavily in human resource training programmes, with the aim of capitalizing on young national talent. Iktasib has been designed to shape students' careers, enhance their understanding of banking and enlighten them about developments in Islamic banking while preparing them to face the challenges of the future."
Serkal also announced that this year's Iktasib will be different from the previous four, in that the bank will offer special incentives for the top students, including five scholarships in the Emirates Banking Institution sponsored by the bank.
Obaid Khalifah Al Shamsi, Assistant Vice President - Head of Emiratisation at DIB, said: "Based on the successful results of previous Iktasibs, this year DIB is putting extra efforts in this unique programme. The trainees will be divided into two groups thereby providing adequate attention to each student. The successful candidates will be given priority-employment during our recruitment exercise in the future."
"Iktasib introduces trainees to the various services of the bank including specialized advisory services, savings and current accounts; investment and credit products, foreign transactions, safety deposit boxes, call centre management and Internet banking," Mr. Obaid concluded.
The programme also uses a creative style in the way it is managed. It is organised by the trainees themselves who will subsequently develop their managerial and administrative skills.
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DIB launches the 5th round of Iktasib
- United Arab Emirates: Monday, June 26 - 2006 at 13:38
- PRESS RELEASE
Dubai Islamic Bank (DIB) announced the start of the fifth round Emiratisation training programme, Iktasib.
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About DIB: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. The bank reported net profit for the year ending 31st December 2005 of AED1.061 billion rising by 130 per cent compared to AED461 million in 2004. The profit for the bank, including depositors' profits, reported a 97 per cent increase for the year ending December 2005 at AED2 billion compared to AED1.017 million for 2004.
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.
DIB opened its first representative office in Turkey to improve its access to that market. DIB has also acquired 60 per cent of its stake in Al Khartoum Bank and is also among the parents banks of Emirates and Sudan Bank (ESB). 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 including the Dubai Ports, Customs & Free Zone Corporation (PCFC) $3.5 billion Sukuk, the world's largest, and Dubai's Department of Civil Aviation US$1 billion Islamic bond issue. The issue was arranged 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.
For further information, please contact:
Tim Harrison / Bakul Gala / Tarek Fleihan
Mobile: 5097631 / 2459547 / 5198511
ASDA'A Public Relations
Dubai, UAE
Tel: +971-4-3344550
Fax: +971-4-3344556
Posted by Janeta Novakovic, Assistant News EditorMonday, June 26 - 2006 at 13:38 UAE local time (GMT+4)
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