Latest news with #Chilwan
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.
Mid East Info
25-02-2025
- Business
- Mid East Info
Dubai Islamic Bank Publishes its First Sustainability-Linked Finance Facilities Financing Framework - Middle East Business News and Information
The first for any Islamic bank globally Showcases the bank's commitment to sustainability Reinforces DIB's alignment with UAE's Net Zero agenda Dubai – February, 2025: Following the country's ambitious climate-positive actions, Dubai Islamic Bank (DIB), the largest Islamic bank in the United Arab Emirates, has announced its inaugural Sustainability-Linked Finance Facilities Financing Framework. This Framework, which is in line with ICMA's SLLBG is the first of its kind to be published by an Islamic bank globally. The Framework provides clear definitions for what qualifies as eligible Sustainability-Linked Finance Facilities (SLF) and will enable DIB to issue instruments with proceeds allocated to finance and/or refinance such SLF Facilities, which contribute to Climate Change Mitigation. To ensure end-to-end credibility and impact in Climate Change Mitigation, the Framework includes predefined Key Performance Indicators and Sustainability Performance Targets aligned with ICMA's SLLBG. Eligible SLF Facilities under the Framework follow LMA's SLLP. Dr. Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said: 'Having published our debut Sustainable Finance Framework in 2022, the development of this new Framework is an important step in our ESG journey. The Framework underpins a key pillar in our Sustainability Strategy – 'Finance a Sustainable Future' – and will contribute to the bank's commitment to achieving 15% of our portfolio in Sustainable Finance by 2030.' Dr. Chilwan added: 'Additionally, the Framework will support existing and new customers within and outside the region who are embarking on transforming their current business model into a more sustainable and future-proof one, with clear commitments to environmental and climate-positive impacts over the journey' An allocation and impact report will be published at least annually throughout the lifetime of the Sustainability-Linked Finance instruments. SLF Facilities included in the report will be subject to a Second Party Opinion (SPO) and the report will also receive limited assurance by an independent party. DIB has obtained an SPO from ISS-Corporate (ISS) which assessed the Framework as aligned with ICMA's SLLBG. Standard Chartered Bank supported the development of the Framework as the sole service provider. In addition to this milestone, DIB has also renewed its Asset-Based Sustainable Finance Framework in 2024, which also received a Second Party Opinion from ISS. About Dubai Islamic Bank: Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full service Islamic bank and amongst the largest Islamic banks in the world. With Group assets more than reaching USD90 billion and market capitalization of more than USD 14bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients. In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB's first foray in the Far East, the bank owns a nearly 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry. In 2023, DIB entered Turkey through a 20% acquisition of T.O.M. Group which provides digital banking services. DIB is committed to leading the way in sustainable Islamic financing, with a total sustainable sukuk issuances of USD 2.75 billion to date and strategic involvement in green and sustainable capital markets, reflecting the bank's ongoing dedication to ESG principles and a sustainable future. The bank's ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world's Islamic Banks, marking it a clear indication of the bank's leadership position in the Islamic finance sector.
Zawya
24-02-2025
- Business
- Zawya
Dubai Islamic Bank publishes its first sustainability-linked finance facilities financing framework
RELATED TOPICS ISLAMIC FINANCE RELATED COMPANIES Priority & Platinum Banking DIB Noor Bank Panin Dubai Syariah Bank DIB Important Bank StanChart Tom Group DIB Pakistan Limited DIB Kenya Ltd. Dubai – Following the country's ambitious climate-positive actions, Dubai Islamic Bank (DIB), the largest Islamic bank in the United Arab Emirates, has announced its inaugural Sustainability-Linked Finance Facilities Financing Framework. This Framework, which is in line with ICMA's SLLBG is the first of its kind to be published by an Islamic bank globally. The Framework provides clear definitions for what qualifies as eligible Sustainability-Linked Finance Facilities (SLF) and will enable DIB to issue instruments with proceeds allocated to finance and/or refinance such SLF Facilities, which contribute to Climate Change Mitigation. To ensure end-to-end credibility and impact in Climate Change Mitigation, the Framework includes predefined Key Performance Indicators and Sustainability Performance Targets aligned with ICMA's SLLBG. Eligible SLF Facilities under the Framework follow LMA's SLLP. Dr. Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said: "Having published our debut Sustainable Finance Framework in 2022, the development of this new Framework is an important step in our ESG journey. The Framework underpins a key pillar in our Sustainability Strategy – 'Finance a Sustainable Future' – and will contribute to the bank's commitment to achieving 15% of our portfolio in Sustainable Finance by 2030.' Dr. Chilwan added: 'Additionally, the Framework will support existing and new customers within and outside the region who are embarking on transforming their current business model into a more sustainable and future-proof one, with clear commitments to environmental and climate-positive impacts over the journey' An allocation and impact report will be published at least annually throughout the lifetime of the Sustainability-Linked Finance instruments. SLF Facilities included in the report will be subject to a Second Party Opinion (SPO) and the report will also receive limited assurance by an independent party. DIB has obtained an SPO from ISS-Corporate (ISS) which assessed the Framework as aligned with ICMA's SLLBG. Standard Chartered Bank supported the development of the Framework as the sole service provider. In addition to this milestone, DIB has also renewed its Asset-Based Sustainable Finance Framework in 2024, which also received a Second Party Opinion from ISS. About Dubai Islamic Bank: Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world's first full service Islamic bank and amongst the largest Islamic banks in the world. With Group assets more than reaching USD90 billion and market capitalization of more than USD 14bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients. In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB's first foray in the Far East, the bank owns a nearly 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry. In 2023, DIB entered Turkey through a 20% acquisition of T.O.M. Group which provides digital banking services. DIB is committed to leading the way in sustainable Islamic financing, with a total sustainable sukuk issuances of USD 2.75 billion to date and strategic involvement in green and sustainable capital markets, reflecting the bank's ongoing dedication to ESG principles and a sustainable future. The bank's ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world's Islamic Banks, marking it a clear indication of the bank's leadership position in the Islamic finance sector. For more information, please visit us at Please follow us on DIB's social channels: For more PR information, please contact: Dubai Islamic Bank Kashif Moosa Head of Investor Relations & Strategic Communication Email: kmoosa@ Weber Shandwick Tameem Alkintar Account Director Email: TAlkintar@
Al Bawaba
24-02-2025
- Business
- Al Bawaba
Dubai Islamic Bank Publishes its First Sustainability-Linked Finance Facilities Financing Framework
Following the country's ambitious climate-positive actions, Dubai Islamic Bank (DIB), the largest Islamic bank in the United Arab Emirates, has announced its inaugural Sustainability-Linked Finance Facilities Financing Framework. This Framework, which is in line with ICMA's SLLBG is the first of its kind to be published by an Islamic bank globally. The Framework provides clear definitions for what qualifies as eligible Sustainability-Linked Finance Facilities (SLF) and will enable DIB to issue instruments with proceeds allocated to finance and/or refinance such SLF Facilities, which contribute to Climate Change Mitigation. To ensure end-to-end credibility and impact in Climate Change Mitigation, the Framework includes predefined Key Performance Indicators and Sustainability Performance Targets aligned with ICMA's SLLBG. Eligible SLF Facilities under the Framework follow LMA's Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said: "Having published our debut Sustainable Finance Framework in 2022, the development of this new Framework is an important step in our ESG journey. The Framework underpins a key pillar in our Sustainability Strategy – 'Finance a Sustainable Future' – and will contribute to the bank's commitment to achieving 15% of our portfolio in Sustainable Finance by 2030.'Dr. Chilwan added: 'Additionally, the Framework will support existing and new customers within and outside the region who are embarking on transforming their current business model into a more sustainable and future-proof one, with clear commitments to environmental and climate-positive impacts over the journey'An allocation and impact report will be published at least annually throughout the lifetime of the Sustainability-Linked Finance instruments. SLF Facilities included in the report will be subject to a Second Party Opinion (SPO) and the report will also receive limited assurance by an independent party. DIB has obtained an SPO from ISS-Corporate (ISS) which assessed the Framework as aligned with ICMA's SLLBG. Standard Chartered Bank supported the development of the Framework as the sole service provider. In addition to this milestone, DIB has also renewed its Asset-Based Sustainable Finance Framework in 2024, which also received a Second Party Opinion from ISS. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
