Dubai Islamic Bank wins big at 2012 Islamic Business & Finance Awards

Dubai Islamic Bank (DIB) announced today that it has been named “Best Sukuk Arranger” and “Best Private Bank” at the 2012 Islamic Business & Finance Awards, a leading event for the global Islamic financial community. The awards were received by Dr. Adnan Chilwan, Deputy Chief Executive Officer, DIB and reflect the bank’s sustained focus on playing a vital role in the nation’s economy.

Speaking at the awards ceremony, Dr. Adnan Chilwan, said: “From handling the issuance of Islamic bonds for organisations that are integral to the UAE economy, to providing exclusive and unmatched private banking services for our high net-worth customers, we continue to innovate and set higher benchmarks for the Islamic finance sector. DIB has been a pioneer in Sukuk issuance and Islamic banking products and services, in general, and we are very pleased to receive these awards for continuing to provide the best Shariah-compliant alternatives to conventional banking services on the market today. We take pride in leading from the front, and look forward to continued success for years to come.”

Over the past year, DIB has been involved in several benchmark Sukuk transactions including Jebel Ali Free Zone’s US$650 million 7 year Islamic bond, Government of Dubai’s US$1.25 billion Dual Tranche 5 year and 10 year Sukuk, Majid Al Futtaim’s US$400 million 5 year debut Sukuk issuance, Emaar’s US$500 million 7 year Sukuk and DIB’s own US$500 million 5 year issue.

DIB also won the “Best Private Bank” award for Wajaha, an invitation-only wealth management service that offers sophisticated Islamic banking products and services at exclusive banking centres to high net-worth customers. 

Now in its seventh year, the annual Islamic Business & Finance Awards event is sponsored by Islamic Business & Finance magazine and brings together more than 300 senior Islamic bankers from across the Middle East, Europe, the Americas, Africa and Asia to recognise the best in Shariah-compliant banking services.