Dubai Islamic Bank
Encyclopedia
The Dubai Islamic Bank is an Islamic bank
in Dubai
, established in 1975.
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank currently operates 62 branches in the UAE.
DIB is involved in local and international partnerships, having established DIB Pakistan Limited, a wholly owned subsidiary which has a network of 35 branches across 15 major cities in Pakistan. DIB also has a representative office in Turkey, and has received a preliminary banking licence by the Central Bank of Jordan to operate as an Islamic financial institution through a new entity - Jordan Dubai Islamic Bank.
Islamic banking
Islamic banking is banking or banking activity that is consistent with the principles of Islamic law and its practical application through the development of Islamic economics. Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees for loans of money...
in Dubai
Dubai
Dubai is a city and emirate in the United Arab Emirates . The emirate is located south of the Persian Gulf on the Arabian Peninsula and has the largest population with the second-largest land territory by area of all the emirates, after Abu Dhabi...
, established in 1975.
Financial Information
| Figure | 2004 | 2003 | 2002 |
|---|---|---|---|
| Total Assets | 30,613,361 | 22,778,319 | 19,587,790 |
| Shareholder's Equity | 2,687,419 | 1,548,180 | 1,473,986 |
| NIAT | 461,003 | 234,456 | 159,798 |
| Dividends | NA | 150,000 | 100,000 |
| Assets Growth | 34.40% | 16.23% | 27.81% |
| Earning Growth | 96.64% | 46.72% | 4.77% |
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank currently operates 62 branches in the UAE.
DIB is involved in local and international partnerships, having established DIB Pakistan Limited, a wholly owned subsidiary which has a network of 35 branches across 15 major cities in Pakistan. DIB also has a representative office in Turkey, and has received a preliminary banking licence by the Central Bank of Jordan to operate as an Islamic financial institution through a new entity - Jordan Dubai Islamic Bank.