CBUAE issues commemorative coins to mark the Golden Jubilee of DIB
The obverse of the coin features the inscription "50 Years of Progress", the mnemonic descriptor of this occasion in Arabic and English, signifying the 1975-2025 period, along with the name "Dubai Islamic Bank" in both languages. The reverse side displays the nominal value of "50 dirhams" in Arabic, encircled by the inscription "Central Bank of the UAE' in both Arabic and English.
The issuance of the coin comes as part of DIB celebration of its anniversary and the launch of its journey full of growth, development, and achievements over fifty years, making it a prominent financial institution in the UAE that provides innovative banking services to individuals and companies, in line with the economic and developmental aspirations of the country.
The commemorative coins will be formally handed over to DIB and will not be available for sale to public through CBUAE or DIB.
H.E. Saif Humaid Aldhaheri, the CBUAE's Assistant Governor for Banking Operations and Support Services, said: 'The Central Bank issues these commemorative coins that embody DIB's fifty-year journey of contributions and successes and its effective role in supporting the national economy. This issuance reflects the central bank's support to document the prominent institutional achievements that are integral to the financial sector's history, and it highlights the continuous efforts to enhance trust and financial stability in the UAE.'
Dr. Adnan Chilwan, Group Chief Executive Officer of DIB, said: 'We are deeply honoured by the Central Bank of the UAE's gesture in adopting the DIB initiative and issuing commemorative coins to mark our 50-year legacy. More than symbolic tribute, it reflects the enduring partnership between DIB and the nation's financial ecosystem, and our shared commitment to building a resilient, inclusive, and forward-looking economy. As we celebrate five decades of pioneering Islamic finance, this recognition reinforces our resolve to lead with purpose, inspire innovation, and shape the future of banking in the UAE and beyond.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
a few seconds ago
- Khaleej Times
UAE: Lulu Retail H1 2025 net profit jumps to $127 million as its expansion continues
Lulu Retail, the largest pan-GCC full-line retailer, on Wednesday said its net profit jumped 9.1 per cent year-on-year to $127 million in the first half of 2025, driven by the opening of new stores. The retail giant opened seven new stores during January-June 2025, with four stores opening in July. It aims to open nine more stores this year. Its first-half 2025 revenue reached $4.1 billion, up 5.9 per cent. Its EBITDA for H1 2025 was recorded at $418 million, up seven per cent year-on-year. Saifee Rupawala, CEO of Lulu Retail, said average basket value, customer count and sales per square metre all increased positively over the first six months of the year, as 690,000 people daily shopped at its stores. 'Expansion continues in line with our strategy, with seven stores opening in H1 2025 and further four in July, taking the total store count to 259. Our loyalty programme continues to grow, with around one million new members joining during the second quarter, taking the total count to 7.3 million,' he said. The Abu Dhabi-headquartered company announced an interim dividend of $98.4 million. In Q2 2025, the company reported revenue of $2 billion, up 4.6 per cent, driven by like-for-like growth of 2.1 per cent. Its e-commerce continued its growth momentum in the second quarter of 2025, with sales up 43 per cent to $108 million, equating to 5.6 per cent of retail revenue. Key markets The UAE, Lulu's largest market, recorded Q2 2025 revenue growth of 9.4 per cent as the component was the continued strong demand for fresh food in the region, which was leveraged through Lulu's omni-channel offerings. In Saudi Arabia, its revenue rose by 3.8 per cent in Q2 2025. Meanwhile, Kuwait continued to trade strongly with Q2 2025 revenue growth of 4.9 per cent. In other markets, revenue in Qatar increased by 0.1 per cent, while revenue in Oman declined by 1 per cent due to flat supermarket sales. During Q2 2025, Lulu opened one hypermarket and one express store, which were both in the UAE. This added total retail space of 9,245 square metres, which takes Lulu's total retail space to 1.35 million square metres. This comprises 120 hypermarkets, 112 express stores, and 24 mini-markets. One small Express store in Dubai was closed during the quarter. The rollout plan for the year remains on track, with the company expecting to open a total of 20 stores in 2025.
Arabian Business
31 minutes ago
- Arabian Business
The Shurooq story is all about investing in people, planet, and place
Over the past 15 years, the Sharjah Investment and Development Authority (Shurooq) has invested AED 7.2 billion across 52 transformative projects, reshaping Sharjah's economic and cultural landscape. Under the leadership of Her Excellency Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of Shurooq, the Authority has emerged as a model of how investment, sustainability, and cultural heritage can be harmonised within a forward-looking development framework. This strategic vision has not only advanced economic growth but also preserved the emirate's identity, ensuring that development remains anchored in community impact and environmental stewardship. Ahmed Obaid Al Qaseer, CEO of Shurooq, emphasises that their investment approach is far from random. Each of its key sectors, real estate, hospitality, arts and culture, and leisure, was selected for its capacity to deliver lasting value to both residents and visitors. 'This holistic approach—guided by the vision of His Highness Sheikh Dr Sultan bin Mohammed Al Qasimi—continues to inform our decision-making, enabling Shurooq to shape a vibrant and resilient Sharjah for generations to come,' says Al Qaseer. Rather than operate as a conventional accelerator, Shurooq empowers start-ups and SMEs by building strategic destinations that enhance visibility and accessibility. 'Today, over 600 businesses operate across our projects—including 87 SMEs and nearly 300 women-led enterprises—across sectors like hospitality, retail, arts and culture, and leisure,' says Al Qaseer. Through partnerships with entities like Sheraa and the Sharjah Advanced Industry Accelerator, Shurooq has helped streamline investor support, lower entry barriers, and create a fertile ecosystem for entrepreneurship. Al Qaseer describes this model as 'enablement through infrastructure,' positioning Shurooq as a vital catalyst rather than a competitor in the innovation space. Several landmark projects further illustrate Shurooq's commitment to integrated, values-led growth. Sharjah Sustainable City stands as a testament to the emirate's ambition to lead in climate-conscious urban design, showcasing renewable energy use, water recycling, and reduced carbon emissions. The Sharjah Collection Retreats, featuring Kingfisher, Moon, and Al Rayaheen, combine luxury with eco-tourism, offering immersive cultural experiences rooted in sustainability. The House of Wisdom redefines the modern library, merging cultural heritage with digital innovation in a shared space for learning, art, and collaboration. Meanwhile, community-focused developments like Khorfakkan Beach and Heart of Sharjah show how public infrastructure and restored heritage sites can together drive social cohesion and urban vitality. Public-private partnerships (PPPs) are another cornerstone of Shurooq's success. 'At Shurooq, we've learned that clearly defined roles, outcome-based frameworks, and shared risk models lead to resilient developments with measurable impact,' elaborates Al Qaseer. Shurooq's partnerships with Eagle Hills Sharjah, Diamond Developers, and General Hotel Management Ltd (GHM) have delivered transformative projects like Maryam Island, Sharjah Sustainable City, and The Chedi Al Bait, Sharjah. 'Looking ahead, PPPs will remain central to Sharjah's development strategy, especially in priority areas such as sustainable infrastructure, health tourism, and clean mobility'. These partnerships go beyond capital and investments; they reflect progress on key UN Sustainable Development Goals, particularly in renewable energy, sustainable cities, and climate action. 'One of the most notable examples is our partnership with Diamond Developers on Sharjah Sustainable City, which directly advances UN SDG 11: Sustainable Cities and Communities, SDG 13: Climate Action, and SDG 7: Affordable and Clean Energy, by integrating renewable energy, water recycling, and eco-conscious living standards,' asserts Al Qaseer. 'Likewise, our hospitality collaborations support SDG 8: Decent Work and Economic Growth and SDG 12: Responsible Consumption and Production through sustainable tourism models and inclusive job creation.' Additional collaborations with organisations like Mubadara and the Environment and Protected Areas Authority (EPAA) reinforce Shurooq's commitment to conservation and community well-being. Beyond physical infrastructure, Shurooq has also helped position Sharjah as a credible global investment destination. With AED 97 billion in capital secured across 600 projects, the emirate offers competitive operational costs, regulatory clarity, and robust infrastructure. The Sharjah FDI Office (Invest in Sharjah) plays a pivotal role in maintaining this momentum by fostering investor confidence through federal coordination and international outreach. For Shurooq, sustainability is not just a guiding principle; it is a measurable performance metric. Every project integrates environmental KPIs, third-party audits, and biodiversity protocols to ensure long-term resilience. This meticulous approach is central to how Shurooq future-proofs its developments and sustains impact beyond short-term gains. Looking ahead, Al Qaseer envisions the next phase of development focused on sustainable tourism, wellness infrastructure, and innovation districts led by SMEs. With 60 million square feet already developed and guided by the vision of H.H. Sheikh Dr. Sultan bin Mohammed Al Qasimi and H.E. Sheikha Bodour bint Sultan Al Qasimi, Shurooq continues to evolve, shaping Sharjah's future as a beacon of inclusive, values-driven urban growth. Al Qaseer summarises it in a single line: 'We are not just building destinations—we are helping to define the future urban and economic identity of Sharjah'.
Zawya
31 minutes ago
- Zawya
Nisus joins BNW to acquire prime Jumeirah residential project
UAE - Nisus Finance Investment Consultancy (NiFCO Dubai) has sealed a strategic partnership with UAE group BNW Developments to acquire a premium residential building in Jumeirah Village Circle (JVC), featuring 143 residential apartments as well as three retail units. A fully owned subsidiary of Nisus Finance Services, NiFCO Dubai has launched a key property fund, Nisus High Yield Growth Fund Closed-Ended IC, which is registered by Dubai International Financial Centre (DIFC). The fund is incorporated under the laws of the DIFC, and an incorporated cell of Gateway ICC Limited with the Gateway Investment Management Services (DIFC) Limited as the Fund Manager. The Fund through a DIFC special purpose vehicle – NiFCO Holding 02 Ltd – has acquired a premium residential building in District 18 of Jumeirah Village Circle (JVC). Spanning over a 120,000 sq ft area, the key development comprising 143 residential apartments and three retail units. This building, called Esplora, is spread over G+3P+16 floors and has well-appointed 48 studios, 63 one-bedroom apartments and 32 two-bedroom apartments as well as three retail units. As part of the partnership, BNW Developments and NiFCO Holding 02 Ltd have incorporated a new entity called BNW NiFCO Buying and Selling Real Estate that will handle the development, marketing and sale of the residential tower at JVC, recently acquired by NiFCO Dubai. As per the agreement, the asset will now be professionally marketed and sold by BNW Developments, bringing together regulated capital discipline and on-ground market expertise. This partnership marks a new consumer-first collaboration model in the UAE's real estate landscape - focused on governance-backed, move-in-ready homes that offer immediate value and quality lifestyle to middle-income families. As Dubai's real estate market matures further, this partnership aims to move beyond the off-plan status quo, focusing on ready-to-use, well-maintained homes tailored for the mid-income segment. With additional assets in the pipeline, this model is set to scale and support a broader $1 billion real estate vision. "This new partnership creates an important roadmap to accelerate growth in the real estate sector — by infusing capital into the industry, easing pressure on developers to focus on development and delivery," said Amit Goenka, the Chairman and Managing Director of Nisus Finance Group (NiFCO). Nisus Finance is currently evaluating $200 million worth of additional assets for acquisition and resale in the market. The firm is also investing additional capital to enhance the built environment, upgrading common areas with modern aesthetics and improved amenities - comparable to the latest off-plan assets. "It also enables sales and marketing leaders such as BNW Developments to move ready inventory swiftly to buyers and investors. In turn, this will boost the pace of activity and support broader economic growth," he noted. The partnership combines NiFCO Dubai's expertise in deploying capital to spearhead project development and sale with BNW Developments' proven expertise in project management, development, marketing and sales – creating a combined strength that is able to deliver higher and faster yields that will lead the property development and management in the UAE. On its part, BNW said it is not just going to acquire the building and white label it, but will embed its essence into this project and future projects elevating the overall living experience. "We are pleased to partner with Nisus Finance, which is supporting the real estate sector with fresh capital to ensure growth. Our expertise in marketing and sales will drive strong uptake of these projects," stated Ankur Aggarwal, the Founder and Chairman of BNW Developments. "In many ways, this redefines how the industry operates. We help fuel growth by deploying private capital, supporting key stakeholders - developers, contractors, brokers, buyers, and investors. As a finance company, we're deploying international capital into the UAE real estate sector to help it scale faster," he added. Vivek Anand Oberoi, Managing Director and Co-Founder of BNW Developments, said the company has developed innovative ideas in development partnership, finance and investment into UAE's real estate market that are changing the overall real estate financing business and accelerating the pace of developments." "We are very excited about our partnership with NiFCO Dubai which is bringing liquidity in the market to fuel the growth in real estate. The synergy between BNW Developments and NiFCO Dubai will help attract greater international capital into real estate in the years to come," he added.
