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25 November 2018

DIB Crowned World’s Strongest Islamic Retail Bank 2018

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Dubai Islamic Bank, the UAE’s largest Islamic bank, received three much sought after awards, including the ‘Strongest Islamic Retail bank in the World’, at the prestigious Islamic Retail Banking Awards (IRBA) 2018, recognizing its outstanding performance amongst the world’s Islamic retail banks. The bank also took home the title of ‘Strongest Islamic Retail Bank in the UAE’ for the fourth consecutive year along with the ‘Critics’ Choice for Most Innovative Digital Retail Bank’.

Hosted by Cambridge IF Analytica, the fourth Islamic Retail Banking Awards (IRBA) took place at the JW Marriott Marquis Hotel in Dubai on November 21, 2018. Held annually, IRBA prestigious award ceremony honors individuals and institutions who have demonstrated great commitment and made significant contribution to the development, growth, and success of Islamic retail banking.

The judging process for the ‘Strongest Islamic Retail Bank’ was based on the path-breaking Islamic banking efficiency study conducted by Cambridge IFA which ranks over 130 Islamic retail banks. Judged by a panel of experts, the process has established itself as a benchmark in assessing the performance of Islamic Retail Banks across the world. The analysis takes into account a number of factors that contribute to the cost-effectiveness and productivity of an Islamic bank. The Critics’ Choice award winners are carefully selected and decided qualitatively by the Critic's Choice Committee, which comprises of leading Islamic banking experts from around the world.

Nasser Al Awadhi, Chief of Consumer Banking at DIB said: “We are privileged and are grateful to have been recognized once again as the ‘Strongest Islamic Retail Bank’ not just in the UAE, but across the globe. This award crowns our efforts over a remarkable year in making Islamic retail banking a core component of the Islamic Banking and Finance (IBF) sector globally. By leveraging our unique offering of innovative products, exceptional services, and unparalleled expertise, we can continue to improve our clients’ experience across every facet of banking. With customer centricity being at the heart of what we do, our priorities remain focused on strengthening and establishing long-term relationships while striving to meet the ever changing needs.”

DIB maintains its dominance in the Islamic Finance space as the largest Islamic bank in the UAE and amongst the top three banks in the country. The bank is also rapidly growing its footprint beyond traditional borders and has established a strong presence in Indonesia, Pakistan, and East Africa – thereby bringing Islamic Finance to new markets.