Latest news with #AdnanChilwan
Business Recorder
09-07-2025
- Business
- Business Recorder
DIB arranges $1bn sovereign financing for Pakistan
Dubai Islamic Bank (DIB), the largest bank in the UAE, has finalised a syndicated term finance facility deal worth $1 billion with the Government of Pakistan. The facility was arranged in collaboration with a consortium of regional and international financial institutions, read a statement on Wednesday. The five-year facility is partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB) — marking the first PBG transaction of its kind undertaken by ADB for the country. The Islamic tranche, structured as an AAOIFI-compliant Commodity Murabaha, represents approximately 89% of the total facility, which reflects the growing demand for Shariah-based financing and supports Pakistan's strategic objective of expanding Islamic finance. As per the statement, DIB acted as the Sole Islamic Global Coordinator and, alongside Standard Chartered, also served as the Joint Mandated Lead Arranger and Bookrunner. China rolls over $3.4 billion of commercial loans to Pakistan, says source Other leading Islamic banks from the region included Abu Dhabi Islamic Bank, Ajman Bank and Sharjah Islamic Bank. 'This landmark financing arrangement not only underscores the strong confidence of regional and international financial institutions in Pakistan's economic reform trajectory, but also marks an important step in expanding our access to innovative and Shariah-compliant funding solutions,' said Minister of Finance, Muhammad Aurangzeb. Meanwhile, Dr Adnan Chilwan, Group Chief Executive Officer, DIB, commented: 'This transaction marks a key milestone in demonstrating how Sharia-compliant financing can be scaled effectively to meet sovereign objectives while upholding partnership and prudence. 'DIB is delighted to have reintroduced Pakistan's credit to the Islamic term financing market after a hiatus of over two years through an innovative structure. We are confident this will pave the way for the government to access broader pools of Sharia-compliant liquidity in the near future,' he said. The Islamic bank shared that the inclusion of an ADB Policy-Based Guarantee has played a key role in facilitating Pakistan's return to the international commercial market, while reflecting confidence in the country's ongoing fiscal reforms and macroeconomic resilience. 'For the Government of Pakistan, the transaction marks a strategic re-engagement with Middle East capital markets after more than two years, demonstrating growing investor trust and a renewed appetite for collaboration through ethical and cost-effective financing solutions,' it said.
Hi Dubai
09-07-2025
- Business
- Hi Dubai
Dubai Islamic Bank Leads $1 Billion Shariah-Compliant Facility for Pakistan
Dubai Islamic Bank (DIB) has successfully led a landmark $1 billion syndicated term-finance facility for the Government of Pakistan, marking a significant return to the international Islamic finance market after more than two years. Structured over five years and backed in part by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB), the facility represents ADB's first-ever PBG transaction for Pakistan. This innovative financing package reflects growing global interest in Shariah-compliant solutions for sovereign funding. Nearly 89 percent of the transaction was structured as an AAOIFI-compliant Commodity Murabaha, underscoring Pakistan's strategic push to expand Islamic finance. DIB served as the Sole Islamic Global Coordinator and, along with Standard Chartered, acted as Joint Mandated Lead Arranger and Bookrunner. Regional Islamic banks including Abu Dhabi Islamic Bank, Ajman Bank, and Sharjah Islamic Bank also participated. Pakistan's Finance Minister, Muhammad Aurangzeb, called the deal a vote of confidence from global markets, noting it aligns with the country's reform agenda and its pursuit of sustainable, Islamic-based funding options. DIB Group CEO Dr. Adnan Chilwan said the transaction reflects how values-driven finance can support national development goals, enabling Pakistan to access broader Shariah-compliant liquidity pools. The facility is seen as a pivotal step for both Pakistan's fiscal strategy and the broader growth of sovereign Islamic finance, combining regional collaboration with ethical and resilient financial structuring. News Source: Emirates News Agency
Al Etihad
04-06-2025
- Business
- Al Etihad
UAE Central Bank issues commemorative coins to mark Golden Jubilee of Dubai Islamic Bank
4 June 2025 15:14 ABU DHABI (WAM)The Central Bank of the UAE (CBUAE) has issued 7,000 silver commemorative coins to mark the Dubai Islamic Bank's (DIB) Golden Jubilee and to honour its achievements in the banking sector since its establishment in issuance includes 2,000 coins of 50 grams and 5,000 coins of 20 grams. 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 reverse side displays the nominal value of "50 dirhams" in Arabic, encircled by the inscription "Central Bank of the UAE' in both Arabic and 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 commemorative coins will be formally handed over to DIB and will not be available for sale to public through CBUAE or CBUAE's Assistant Governor for Banking Operations and Support Services, Saif Humaid Aldhaheri, 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.' Group Chief Executive Officer of DIB, Dr. Adnan Chilwan, 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 a 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.'
Gulf Today
04-06-2025
- Business
- Gulf Today
UAE Central Bank issues 7,000 silver commemorative coins to mark Golden Jubilee of Dubai bank
The Central Bank of the UAE (CBUAE) has issued 7,000 silver commemorative coins to mark the Dubai Islamic Bank's (DIB) Golden Jubilee and to honor its achievements in the banking sector since its establishment in 1975. The issuance includes 2,000 coins of 50 grams and 5,000 coins of 20 grams. 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.'
Mid East Info
27-05-2025
- Business
- Mid East Info
DIB Signs USD 150 Million Murabaha Deal with Turkcell to Accelerate Türkiye's Tech Transformation - Middle East Business News and Information
Facility to drive infrastructure growth and diversify capital access for Türkiye's leading digital operator Strategic deal reflects DIB's expanding role in financing real economies and enabling digital expansion Partnership aligns with DIB's mission to advance sustainable impact through Sharia-compliant financ Dubai, UAE –May 2025: DIB, the world's first Islamic bank and the largest in the UAE, has signed a USD 150 million Murabaha financing agreement with Turkcell, Türkiye's leading telecommunications and technology services provider. The facility will support Turkcell's ongoing investments in digital infrastructure and further reinforces DIB's commitment to enabling growth in high-potential markets. As one of the most prominent Islamic financial institutions in the GCC, the Bank continues to foster cross-border partnerships that drive sustainable, innovation-led development. Structured as a five-year bullet-term facility, the Sharia-compliant financing will enable Turkcell to advance critical infrastructure in areas such as data centres, cloud technologies, and renewable energy—further solidifying Turkcell's role as a leading force in Türkiye's evolving digital economy. Dr. Adnan Chilwan, Group Chief Executive Officer of DIB, commented: 'At DIB, we have long believed that banking goes beyond funding, we drive transformation. This partnership with Turkcell is not merely about leveraging our balance sheet; it is about enabling the organisation to unleash its true potential. Türkiye represents a market with vision, scale, and ambition, an economy investing heavily in the infrastructure of tomorrow, and a natural partner in our cross-border strategy.' Dr. Chilwan added: 'As the UAE's largest Islamic bank, our role increasingly lies in establishing and shaping meaningful connections between geographies, sectors, and the players within. We see Islamic finance as a bridge, one that supports real economies while remaining true to the principles of ethical finance. With this facility, we are supporting a business that understands the future: digital, decentralised, and inclusive essentially, a future that DIB fully believes in.' The deal also strengthens financial and commercial connectivity between the UAE and Türkiye, while offering Turkcell increased access to Islamic financial mechanisms and structures—particularly as it accelerates investment into strategic and sustainability-linked technologies. Dr. Ali Taha Koç, Chief Executive Officer of Turkcell, said: 'As Türkiye advances towards a more digital and data-driven economy, our focus remains on building the infrastructure that supports this evolution. Partnering with a trusted institution like DIB, with its strong regional presence and deep-rooted values, brings both credibility and strategic alignment. This facility is not just timely— it lays a strong foundation for our growth journey in the years ahead.' The agreement was formalised at a high-level signing ceremony in Istanbul, attended by senior leadership from both organisations, led by Dr. Adnan Chilwan and Dr. Ali Taha Koç. This agreement reflects DIB's strategic approach to financing the sectors and institutions shaping the next phase of economic growth. With a clear focus on long-term value, the Bank continues to enable real-world impact by backing businesses that are building the digital, sustainable, and resilient foundations of tomorrow's economies.
