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Dubai Islamic Bank wins Best Islamic Card

Noteworthy acknowledgment demonstrates the bank’s leadership in offering product and service excellence

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has won the award for “Best Islamic Card” for a third consecutive year and clinched the “Best GCC Equity Fund” accolade at the Banker Middle East Product Awards 2015.

Organised by publisher CPI Financial, the annual awards ceremony is acknowledged as one of the most credible in the industry and celebrates the best regional banking products and services.

The winners of the Banker Middle East UAE Product Awards 2015 were selected by the country’s financial services professionals: the readers of Banker Middle East and the registered online users of CPIFinancial.net. This year’s programme included nearly 360 financial products across 54 categories.

With one of the largest consumer bases in the UAE, consisting of over 1.4 million customers and a network of more than 90 branches, DIB has spearheaded the innovation in the banking industry, particularly for Shariah-compliant financial services sector.

In line with this focus, the Al Islami Credit Card is notably the best value card in the market that complies with Sharia principles. It combines convenience with global acceptance, added to a host of special privileges only available to the bank’s cardholders.

Sanjay Malhotra, Chief of Consumer Banking, DIB added: “We are very pleased to have received these awards, which only add to our track record of achievements in delivering the leading Shariah-compliant financial services. With increasing competition in the industry, we recognise the importance of such platforms in identifying product and service excellence, and having won “Best Islamic Card” for a third year in a row, we have clearly set the benchmark for success. Meanwhile, the award for “Best GCC Equity Fund” also highlights our ability to develop and deliver sophisticated capital market solutions for our clients.”

DIB has leveraged its financial expertise to develop the GCC equity fund, which provides opportunities for individual and institutional investors looking to invest exclusively in stock markets across the six GCC countries. The bank’s careful selection of diversified GCC stocks has enabled investors to reap benefits as it has generated 5.3 per cent in returns in 2014.

These awards build on the recognition DIB has received over the years, including winning the accolade for “Best Regional Commercial Bank – Middle East” at the Islamic Business & Finance Awards 2014. The bank also recently won the “Pakistan Deal of the Year”, the “Murdarbah Deal of the Year” and “Ijarah Deal of the Year” at the Islamic Finance News (IFN) Deals of the Year awards 2015.