Dubai Islamic Bank (DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, announced its first half results for the period ending June 30, 2018.
Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank, said: “New initiatives recently announced by the UAE to fuel economic growth across various key sectors look very positive for businesses as well as the financial markets in the coming years. The roll out of the new capital regulations is another solid step by regulator aimed at boosting the financial strength of the sector as a whole and to safeguard the interest of all stakeholders whilst creating new growth opportunities.”
Dubai Islamic Bank Managing Director, Abdulla Al Hamli, said: “Our stringent risk management practices and cautious approach towards lending have led to the creation of a franchise far more immune to economic volatility than ever before. The bank’s investments in strengthening our digital capabilities continues with our recently enhanced web and mobile platforms aimed at providing our customers with advanced functionalities and delivering a more enriching and user-friendly experience.”—Agencies