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Dubai Islamic Bank is looking at acquisitions among other options as part of its expansion strategy. A potential acquisition of Noor Bank by DIB would create a lender with AED 275 billion in assets if completed. The Investment Corporation of Dubai (ICD) is the biggest shareholder in DIB with a 28.4% stake, and it also owns 22.9% of Noor Bank. The Middle East’s financial industry is witnessing a wave of consolidation as banks seek ways to improve competitiveness and boost capital. Abu Dhabi is in the process of merging Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB) and Al Hilal Bank after the consolidation of First Gulf Bank and National Bank of Abu Dhabi to create First Abu Dhabi Bank (FAB) in 2017.

According to Egyptian investment bank EFG-Hermes, the potential acquisition of Noor Bank by Dubai Islamic Bank would be a positive move for the buyer. Also, there is room for more consolidation among local lenders as the UAE is overbanked, with 22 local and 38 foreign banks, most of which have "sub-optimal" market shares. EFG-Hermes expects a potential transaction to be made through a share-swap. It estimates a share-swap of 1 DIB share for 7.8 Noor Bank shares that would lead to a 1% earnings per share dilution for DIB. The merged entity would have an assets market share of 10%, as Noor Bank's assets amount to Dh51 billion or 2% market share and DIB’s assets amount to Dh224bn or 8% as of 2018.

Al Jalila Foundation has received a donation of Dh3 million from Dubai Islamic Bank (DIB) to support it’s Aawen (treatment) programme. Since its inception in 2013, Al Jalila Foundation has supported 467 patients from 36 nationalities, including 190 children, and invested Dh34 million to provide relief to patients who suffer from chronic illnesses. The treatment costs for patients, newborn to 90 years of age, have ranged from to Dh20,000 to Dh250,000 per individual.

The Dubai Islamic Bank (DIB) has donated Dh20 million ($5.4 million) in Zakat money to the Ras al-Khaimah Charity Association. The association will distribute the funds to those eligible for Zakat though legitimate channels during the month of Ramadan. Abdul Razzaq Al Abdullah, head of the Community Services Department of the DIB, handed the donation cheque to Abdulaziz Al Zaabi, chairman of the charity association. Al Zaabi thanked the DIB’s management for its generous support and considerable donation.

Dubai Islamic Bank (DIB) has announced a successful closing to its capital raising programme. The issuance of 1.6 billion additional shares at price of AED3.11 per share was announced in April with the aim to boost the core capital of the bank by over AED5 billion ($1.36 billion). According to DIB's Group CEO Dr Adnan Chilwan, growth remains on the horizon as the bank’s financial position has become stronger than ever before with improved asset quality and balance sheet. He added that the capital boost will help maintain the bank's "competitive edge".

Dubai Islamic Bank (DIB) is celebrating the listing of a $1 billion Sukuk on Nasdaq Dubai. The listing is the first benchmark dollar-denominated sukuk from a GCC issuer in 2018. DIB's Group CEO Dr Adnan Chilwan said the bank's master plan was developed a decade ago and has yielded solid results so far. He added that the strong demand for the credit continues to grow across a diverse global investor base. This issuance is DIB’s sixth sukuk on Nasdaq Dubai, making the bank the largest UAE debt issuer by value on the exchange with a total of $5.25 billion. The total value of all sukuk listed on Dubai’s exchanges has now reached $53.47 billion, the largest amount of any listing centre in the world.

In 2017 the exceptional performance of sukuk was driven by good liquidity conditions, alongside certain countries’ desire to develop their Islamic finance industries. However, the outlook for sukuk in 2018 is more uncertain. According to Mohamed Damak, S&P Global Ratings’ Head of Islamic Finance, tighter global liquidity conditions, mounting geopolitical risks and slow progress on the standardisation of Islamic finance products will continue to hold the market back from its full potential. While sukuk issuance may decrease in 2018, there are a couple of interesting trends. These include the more stringent application of the profit-and-loss-sharing principle supported by several Sharia scholars. The sukuk investor base is broadening, but there is a lack of a specific regulatory framework to protect retail investors.
Dubai Islamic Bank (DIB) has successfully issued a $1bn sukuk with a five-year tenor. It is the first US dollar benchmark sukuk transaction from the GCC in 2018. The issuance emanates from DIB’s $5bn sukuk programme and carries a profit rate of 3.625%. The instrument will carry a dual listing on the Irish Stock Exchange and Nasdaq Dubai.

Dubai Islamic Bank (DIB) celebrates the listing of a $1 billion Sukuk on Nasdaq Dubai. The Sukuk is the first benchmark dollar-denominated Sukuk from a GCC issuer in 2018. It is DIB's sixth Sukuk on Nasdaq Dubai, making the bank the largest UAE debt issuer with a total of $5.25 billion. The latest Sukuk carries a profit rate of 3.625% with a five-year tenor. DIB's Group CEO Dr Adnan Chilwan said the master plan developed a decade ago has yielded solid results and the strong demand for the credit continues to grow across a diverse global investor base. He added that Nasdaq Dubai provided high visibility in the marketplace as well as close links to investors in the region and internationally.

Dubai Islamic Bank (DIB) has announced the successful pricing of $1 billion Sukuk issued with a five-year tenor. The issuance carries a profit rate of 3.625% and is the first dollar benchmark Sukuk transaction from the GCC in 2018. The orderbook was driven by strong demand across the globe, including Middle East, Europe, Asia and North America, and across a broad spectrum of investors base. According to DIB's Group CEO Dr. Adnan Chilwan, the strong investor interest demonstrates not only the continued attraction of DIB, but also the resilience of the Sukuk market in general. Bank ABC, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, J.P.Morgan, KFH Capital, Sharjah Islamic Bank and Standard Chartered Bank acted as Joint Lead Managers and Joint Bookrunners while Union National Bank and Boubyan Bank acted as Co-Managers on the offering.

Islamic banks made big gains in financing growth and profitability in 2017 while keeping their operating costs and cost of risks under control. Dubai Islamic Bank (DIB), reported a net profit Dh4.5 billion for 2017, up 11% compared to 2016. Total income increased to Dh10.19 billion, up 18% compared to Dh8.63 billion for 2016. Net revenue for 2017 amounted to Dh7.68 billion, an increase of 14% compared with Dh6.76 billion in 2016. DIB Managing Director, Abdullah Al Hamli, says the UAE continues to be one of the leading Islamic finance markets, with assets now reaching around $150 billion, a 7% growth this year. Emirates Islamic reported a net profit of Dh702 million, up 565% compared to 2016. Decline in operating costs and impairments boosted net profits last year. Sharjah Islamic Bank (SIB) reported a full-year 2017 net profit of Dh477.7 million compared with Dh462.9 million in 2016.

Dubai Islamic Bank (DIB) plans to raise capital in 2018 to help support an expected double-digit rise in loan growth. DIB's CEO Adnan Chilwan said the bank was considering options including a rights issue and an issue of Islamic bonds. The final decision will be subject to regulatory approvals. The bank is now targeting loan growth of between 10 and 15% in 2018, the same target it set for 2017.

Dubai Islamic Bank (DIB) and Shahnawaz have entered into a strategic alliance agreement. Shahnawaz is the authorized general distributor of Mercedes-Benz in Pakistan. This initiative will help in establishing Dubai Islamic Bank Pakistan as the preferred financial services partner for Mercedes-Benz in the country. The signing ceremony was held in Karachi in the presence of M Naeem, CEO of Shahnawaz, Naseem Shaikh, General Manager of Shahnawaz and Junaid Ahmed, CEO of Dubai Islamic Bank Pakistan. Junaid Ahmed said this alliance enables the bank's high net worth clientele to achieve their dream of driving their own state-of-the-art Mercedes.

Dr. Adnan Chilwan, CEO of Dubai Islamic Bank (DIB), said that Kenya stood out to the Bank as a stepping stone to expanding its operations into Africa. In May 2017 DIB was granted a banking licence by the Central Bank of Kenya to operate a subsidiary, DIB Kenya. According to Chilwan, Dubai always had the ambition to venture into Far East Asia and East Africa. As DIB had already ventured into Far East Asia, East Africa was the next logical point. From the East African countries Kenya stands out in its regulatory framework and the stability in the country. DIB Kenya is already open and the bank has ambitious plans for East Africa. Chilwan added that Kenya was a country that DIB would be surely focussing on in years to come.

In this interview, Dr. Adnan Chilwan, CEO of Dubai Islamic Bank, reflects on the bank’s performance in the last couple of years and prospects for future growth. Dubai Islamic Bank (DIB) has entered the billion dollar profits club and the challenge is to keep up the pace of exponential growth. Chilwan says a billion dollars is just a start and he wants to find the right way of replicating the successful strategy. He hopes the bank will be able to keep up that good work, making sure the customers are happy, the regulator is happy, the ratings agencies, research analysts and shareholders are all happy with what they get from the bank. He is grateful for the board of directors and for the team behind him that made this billion dollar profit possible.

In this interview Dr. Adnan Chilwan, CEO of Dubai Islamic Bank (DIB), speaks about the Indonesian market and the positioning of Dubai Islamic Bank. In March 2017 Indonesia’s Bank Panin Syariah rebranded to Panin Dubai Syariah Bank (PDSB) and DIB holds a 40% interest. Dr. Chilwan believes Indonesia has great potential and the regulator is quite supportive of Islamic finance. In his view, the success of DIB is the result of its change in positioning. The bank has not compromised Shari’ah, but has a better understanding of customer needs. DIB is competing with the largest players within every region and is aiming at full inclusion to bank everyone.

Dubai Islamic Bank (DIB) has plans to solidify its foundations in the East African Islamic banking sector. Chairman Mohammed Ibrahim Al Shaibani confirmed confirmed the information last weeek. DIB was granted permission to enter the market by the Central Bank of Kenya in May 2017. The regulator used the new entry to highlight Kenya’s growing status as a regional finance hub. Until the DIB entry, Kenya had only two full-fledged Islamic institutions: Gulf African Bank and First Community Bank. The country also has one takaful Islamic insurance firm, a Shari’ah-compliant mutual fund and two cooperatives. Kenya's treasury ministry recently unveiled new plans to make mainstream Islamic finance a major part of the country's growth strategy. Finance minister Henry Rotich said in March that the government would propose alterations to financial law and issue new regulations to facilitate Shari’ah finance.

Dubai Islamic Bank (DIB) has signalled intention to enter the budding East African Islamic market. DIB chairman, Mohammed Ibrahim Al Shaibani, said that the lender would expand and consolidate its reach in East Africa after solidifying its Kenya base. The Central Bank of Kenya (CBK) in May opened the door for Dubai Islamic Bank to enter the local market after more than a year of waiting. DIB intends to exclusively offer Shariah-compliant banking services in the country. Kenya has recently unveiled a package of initiatives aimed at developing a policy framework for Islamic finance in the country. Authorities intend to make Kenya a hub for Islamic finance in Africa with ongoing reforms expected to drive the growth of Islamic-finance operations.

Dubai Islamic Bank’s (DIB) formal entry into the Kenyan market is expected to shake up locally-owned Islamic lenders that have faced little competition for a decade. The Central Bank of Kenya (CBK) has now opened the door for the bank after more than a year of waiting. Kenya has until now had only two fully-fledged Islamic banks, while five other conventional lenders have been offering Shariah-compliant services and products through "Islamic Windows". DIB makes its foray into Kenya at a time when authorities are keen to make Kenya a hub for Islamic finance in Africa with ongoing reforms expected to drive the growth of Islamic-finance operations. The Kenyan government has recently unveiled a package of initiatives to develop a policy framework for Islamic finance in the country.

The Central Bank of Kenya (CBK) has licensed Dubai Islamic Bank (DIB) after the bank fulfilled its stipulated requirements. Dubai Islamic Bank Kenya intends to exclusively offer Shariah compliant banking services becoming the third fully Shariah compliant bank in Kenya. The decision is seen to highlight the CBK's confidence in the stability of the banking sector, which has been experiencing turbulence in the past couple of years. DIB is a fully owned subsidiary of Dubai Islamic Bank of the United Arab Emirates, which has an asset base of Sh4.8 trillion and capital of Sh754.8 billion. The Central Bank of Kenya welcomes the entry of international brands and believes that DIB's entry will expand the offerings in the market.

Dubai Islamic Bank became the first Gulf financial institution to print a sukuk this year as it priced a US$1bn 3.664% five-year issuance. The only other bank from the region to have issued this year is Gulf International Bank, which sold a conventional US$500m five-year last month. Proceeds will go towards refinancing a US$500m sukuk coming due in May, as well as a US$300m maturity for the subsidiary Tamweel. Middle East accounts took 61%, Europe 20%, and Asia 19%. By investor type, banks got 52%, asset managers 39%, agencies 3%, private banks 2% and insurers 2%. Lead arrangers include Bank ABC, DIB, Emirates NBD, HSBC, KFH, Maybank, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard Chartered.