IslamicFinance.de

Dubai Islamic Bank has revealed plans to expand its operations to Africa as well as Asia, as it seeks growth for its domestic and international business. According to DIB’s chief executive Adnan Chilwan, the bank is exploring opportunities in Indonesia, Kenya and surrounding countries in Africa, the Indian subcontinent and the GCC, with the hope of doing this via acquisition, Joint Venture, establishment of a finance company, or through a greenfield operation startup. Given a five-year scenario, the bank expects a decent franchise spread across these countries with stable and solid yields across all sectors. International business is estimated getting at best 10 to 15 percent of the overall group numbers in about six to eight years.