Latest news with #DIB
Gulf Today
3 days ago
- Business
- Gulf Today
RAK charity and DIB to settle rent arrears worth Dhs520,000 for 97 families
With support from Dubai Islamic Bank (DIB), the Ras Al Khaimah Charity Association launched a humanitarian initiative to support families struggling to pay rent arrears due on their rented homes to real estate agents and landlords. The initiative aims to enhance the financial and social stability of insolvent families and alleviate the burden they face in meeting their financial obligations. According to Abdul Aziz Al Zaabi, Chairman of the Board of Directors of the Ras Al Khaimah Charity Association, the initiative targets 97 low-income families at a total cost of Dhs520,000. The association will begin implementing the initiative in the coming days to avoid potential legal action related to rent arrears, which could negatively impact the lives of individuals and families, he said. Al Zaabi explained that the housing support initiative falls within the framework of the association's commitment to assisting needy families and alleviating their financial burdens, thus consolidating family stability for their members. The initiative represents an important qualitative step towards promoting the values of solidarity within the Emirati society in line with the association's vision, mission and objectives, which aim to deepen the concept of charitable work among members of society, he said. The association is continuing to exert efforts to expand the scope of humanitarian initiatives aimed at assisting more needy families in the community, he added. The initiative coincides with the approaching Eid Al Adha to bring joy to the hearts of those with limited income. Meanwhile, Al Zaabi expressed his thanks and appreciation to Dubai Islamic Bank for its continued support of the association's humanitarian projects and initiatives.
Mid East Info
5 days ago
- 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.
Al Bawaba
5 days ago
- Business
- Al Bawaba
DIB Signs USD 150 Million Murabaha Deal with Turkcell to Accelerate Türkiye's Tech Transformation
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 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 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 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.
Zawya
5 days ago
- Business
- Zawya
DIB signs $150mln murabaha deal with Turkcell to accelerate Türkiye's tech transformation
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 finance Dubai, UAE – 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. About DIB: Established in 1975, DIB 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 now exceeding USD90 billion and market capitalisation 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, The launch of Panin Dubai Syariah Bank in Indonesia early marked DIB's first foray in the Far East, with a stake of nearly 25% stake in the Indonesian bank. Additionally, Dubai Islamic Bank PJSC was given the licence 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 UAE. The acquisition of Noor Bank has solidified its position as a leading bank in the global Islamic finance industry. Recently, DIB has successfully acquired minority stake of 25% of T.O.M. Group which provides digital banking services in Türkiye. 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 marking the bank's leadership position in the Islamic finance sector. As a progressive Islamic financial institution, DIB embraces the opportunities and challenges associated with integrating sustainability into its business by delivering sustainable products and services and by advancing the green and social composition. 2025 marked DIB Golden Jubilee, with a Bold New Vision for the Future to be prepared to meet the challenges ahead and continue building a legacy of success for the years to come. For more information, please visit us at Please follow us on DIB's social channels: For more PR information, please contact:
Mid East Info
15-05-2025
- Business
- Mid East Info
DIB Celebrates Golden Jubilee with a Bold New Vision for the Future - Middle East Business News and Information
DIB Marks 50 Years of Excellence with a Grand Celebration and Visionary Future Ahead Revealing a New Corporate Brand Identity, DIB's Bold Step Forward Reflects Innovation and Leadership in Islamic Finance Dubai, UAE – May 2025: Dubai Islamic Bank (DIB), the world's first Islamic bank and the largest in the UAE, honours its 50th anniversary—a historic milestone for the bank and for Islamic finance globally. Since 1975, DIB has helped shape the course of ethical banking by offering Sharia-compliant financial services that now reach more than 5 million customers, with operations spanning seven countries across three continents. This moment is marked not only by a look back at half a century of achievements but also by the revealing of a new corporate identity that reflects DIB's vision for the future—where innovation, sustainability, and purpose-driven growth remain at the centre of its strategy. A Vision That Started in Dubai, Now Leading the World: Founded under the guidance of the late His Highness Sheikh Rashid bin Saeed Al Maktoum and brought to life by the foresight of Haj Saeed bin Ahmed Lootah, DIB began as an ambitious idea to align modern banking with Islamic principles. Today, the Bank is recognised globally as a reference point in the industry, often cited for its pioneering role in establishing Islamic banking frameworks adopted worldwide. In its 50-year journey, DIB has grown its asset base to over AED 355 billion (as of Q1 2025), is listed on the Dubai Financial Market (DFM), and continues to report strong profitability with a first-quarter net income of AED 2.1 billion, reflecting consistent and sustainable growth. A Night to Remember: Hosting an Unforgettable Ceremony In a spectacular gathering at the Coca-Cola Arena in Dubai, nearly 4,000 Dubai Islamic Bank (DIB) employees and leaders came together to celebrate a defining moment in the Bank's five-decade journey. The event was graced by His Excellency Mohammed Ibrahim Al Shaibani, Director General of His Highness The Ruler's Court of Dubai and Chairman of Dubai Islamic Bank, alongside members of the Board of Directors, the Sharia Supervision Committee, and senior management — reflecting the occasion's significance at the highest levels of leadership. It was a heartfelt tribute to DIB's people, its core values, and the strong culture that has formed the foundation of its success. The evening, themed '50 Years of Progress – Celebrating Legacy, Prosperity, and the Future,' captured the essence of DIB's journey—looking back with pride and forward with a bold vision. A grand revealing of the new brand identity took place in a stunning display of legacy through a spectacular Laser Show that marked the reveal. The event also featured a longest service award ceremony, where three esteemed employees were honoured for their remarkable service of over 40 years with the Bank. This celebration of dedication reinforced DIB's commitment to recognising and fostering long-term loyalty and service. The evening concluded with announcing the draw winners, celebrating DIB's people and reinforcing the Bank's dedication to fostering an inclusive and dynamic environment for all its employees. Revealing New Brand Positioning 'Progress Never Stops' In line with its futuristic vision, Dubai Islamic Bank unveiled a bold new corporate brand identity, centred around the slogan 'Progress Never Stops.' This slogan captures the essence of DIB's pioneering legacy while reflecting its bold vision for the future. It embodies the bank's commitment to continuous growth, innovation, and leadership in the global banking landscape. While honouring its founding values of integrity, trust, and excellence, the new identity signals DIB's adaptability and agility as it navigates the future of Islamic finance. With this transformation, the bank affirms its commitment to shaping the future, pushing boundaries, and driving positive change across the global financial sector. A Vision for DIB's Legacy and Future: His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler's Court of Dubai and Chairman of Dubai Islamic Bank, said: 'As Dubai Islamic Bank celebrates 50 years of a profound legacy and continued commitment to excellence, we proudly acknowledge the values that have been the foundation of our success: integrity, trust, and visionary leadership. DIB has consistently pioneered innovation in Islamic finance, not just within the UAE, but globally, setting new standards in the industry. The strategic guidance of the UAE leadership has played a crucial role in creating an environment where institutions like DIB can thrive, leading the charge in shaping the future of finance. As we look to the future, we remain resolutely focused on continuing our legacy, expanding our global influence, and driving impactful change in the financial sector worldwide.' Dr. Adnan Chilwan, Group Chief Executive Officer of Dubai Islamic Bank, said: 'As we celebrate half a century of success, Dubai Islamic Bank stands at the crossroads of a rich legacy and an exciting future. Celebrating its Golden Jubilee today, does not only reflect DIB's remarkable growth but also a firm commitment to leadership, innovation, and the values that have positioned us as a global leader in the Islamic finance landscape. Dr. Chilwan added, 'The launch of our new brand identity marks a bold step forward, symbolising our ability to adapt while remaining firmly anchored in the principles that have defined us. This rebranding is more than just a visual change—it embodies our vision for the future and reinforces our relentless pursuit of excellence. Throughout our journey, we have consistently evolved and driven progress within the financial sector. As we reach this milestone, we are not merely reflecting on our countless achievements, but defining the roadmap for what lies ahead. The next chapter of DIB's journey will be driven by our relentless pursuit of innovation, a deeper commitment to the communities we serve, and a steadfast vision to lead the financial sector with integrity, agility, and purpose. We are prepared to meet the challenges ahead and continue building a legacy of success for the next 50 years.' Looking ahead to the next phase of this transformative journey, Dubai Islamic Bank continues its growth momentum, driven by ambitious strategic vision and new brand identity, to many more decades of leadership and prosperity. A step that will shape the future of Islamic finance for the next 50 years and beyond.
