Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced today that it was awarded “Best Retail Risk Management in the Middle East” at the Asian Banker Middle East and Africa Country Awards 2015. The award recognizes the bank’s industry and class leading risk management capabilities and acknowledges the outstanding achievement in optimizing retail credit growth with minimum financial impact. Key officials from the bank received the accolade at the ceremony held recently at the Ritz-Carlton, DIFC.
The Asian Banker Middle East and Africa Country Awards are renowned in the financial services industry as the highest accolade for professionals and banks in the Middle East and Africa. Highlighting its success and prestigious reputation among industry peers, over 100 institutions across 30 different countries were evaluated. The winners are selected following a stringent three-month evaluation process involving a panel of advisors, industry leaders, practitioners, and academics.
Commenting on the win, Mohamed Abdulla Al Nahdi, Deputy CEO at Dubai Islamic Bank said: “We are very pleased to receive this prestigious award from The Asian Banker magazine, signifying our impressive and sustained progress towards improving our risk management frameworks while simultaneously remaining customer friendly. Primarily relying on cash flow based lending with focus on salary accounts, the retail asset portfolio has performed phenomenally well over the years with the bank continuing to hold leadership positions in various product lines. No wonder then that the retail business now contributes more than 50% of the bank’s revenues.”
“Looking ahead, risk management will remain a key focus area as we continue to promote Islamic banking on a global scale, ensuring strong retail asset growth without compromising quality. As we embark on an exciting growth journey, our commitment to growing in a responsible manner will be closely intertwined with our philosophy to contribute to a healthy financial system in an increasingly complex banking environment.”
Earlier this year, DIB was recognised for its retail banking services at the Banker Middle East Product Awards, where it won the accolades for “Best Islamic Card” and “Best GCC Equity Fund”. Further highlighting its leadership in financial services, it has recently won the Banker Middle East Industry Awards namely, “Best Islamic Bank”, “Best Sukuk Arranger”, “Best Islamic Retail Bank”, “Best Premium Bank – UAE” and “Best Investment Bank”. The bank’s investment banking capabilities were also singled out at the Islamic Finance News (IFN) Deals of the Year Awards 2015, where it won “Pakistan Deal of the Year”, the “Murdarbah Deal of the Year” and “Ijarah Deal of the Year”.
Dubai Islamic Bank Full Year 2024 Group Financial Results
DIB increases its stake to 25% in Digital Bank in Türkiye
Crypto.com inks Partnership with Dubai Islamic Bank
Dubai Islamic Bank Nine Month 2024 Group Financial Results
Dubai Islamic Bank Successfully Issues Additional Tier 1 Sukuk
