Dubai Islamic Bank Offers Up To 90 per cent Home Finance

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced that it is offering up to 90 per cent financing for properties across the UAE. Property buyers can avail of Al Islami Home Finance for up to 25 years for ready and under-construction properties from approved developers. This financing is available to UAE nationals and expatriate residents. In addition, DIB is offering refinancing solutions for properties that are already completed.Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB, said: “Property buyers in the UAE are seeking easy home financing solutions. At DIB, customers are our top priority and we are pleased to open new doors for them by offering up to 90 per cent finance for their dream homes.“The security of owning a home in the UAE provides great comfort to our customers. With a high finance to value ratio and a range of products to suit every need, we encourage homebuyers in the country to take advantage of this opportunity.”Customers can avail of Al Islami Home Finance by visiting any of DIB’s wide network of 57 branches or by requesting a personalised visit from DIB’s Home Finance Advisors.
 About Dubai Islamic Bank:
Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services.The bank currently operates 57 branches in the UAE. As part of its expansion plans announced in early 2009 and in line with its aim to ensure customer satisfaction through accessibility, DIB will increase its nationwide network to 64 branches by the end of this year. In addition to regular, full-service branches, DIB is also planning to launch Express Banking Centres, which will provide fast, efficient services to DIB customers at various convenient locations like shopping malls, hypermarkets and megastoresBy the end of 2009, DIB forecasts that the bank’s total customer base will increase by approximately 15 per cent, reaching some 900,000 customers, while its retail assets business will grow by approximately 20 per cent.DIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIB Pakistan Limited, a wholly owned subsidiary. DIB has also opened its first representative office in Turkey to enhance its access to that market. DIB has also acquired a stake in Al Khartoum Bank and in Emirates and Sudan Bank, as well as contributing to the launch of Jordan Dubai Islamic Bank.DIB has won the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 34 awards that it has won in 2008 across diversified areas within banking, be it retail, corporate or investment banking. The bank was recently named “Best Islamic Bank” for the 4th consecutive year by Banker Middle East magazine. DIB has also received many awards from international organisations, such as the prestigious “Bank of the Year” award from The Banker (Financial Times), along with prestigious accolades from UK based Euromoney and NY based Global Finance magazines.
 

Dubai Islamic Bank Offers Auto Finance At Profit Rates Starting From 4.50 Per Cent

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced that it is offering auto finance at profit rates starting from just 4.50 per cent p.a. Al Islami Auto Finance is available for up to 72 months, with a minimum monthly salary requirement of AED 3,000. No down payment or salary transfer is required to avail of this offer, which covers both new and pre-owned vehicles.

This attractive financing demonstrates the bank’s generally positive outlook as well as its strong liquidity position, and is in line with its expansion plans announced earlier this year. By the end of this year, DIB will open 10 new branches, expanding its nationwide network to 64 branches, further strengthening its presence across the UAE, while also offering an overall enhanced customer experience.

“As the provider of auto finance for one in every three cars financed in the UAE, Al Islami Auto Finance has long been the leading solution of choice for consumers here,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB. “In today’s highly competitive market, the bank has recognised the need for flexible auto finance options – which is why we are very pleased to announce this extremely attractive offer that provides a host of valuable benefits.”

DIB has the country’s largest team of qualified auto finance professionals, many of whom are available directly at dealer locations. The bank offers an unmatched range of Sharia-compliant auto financing solutions – along with value-added services such as insurance finance and service contract finance – at extremely competitive profit rates, catering to a broad cross-section of the UAE population.

Dubai Islamic Bank Opens Three New Branches

Dubai Islamic Bank (DIB) announced today the opening of three new branches in the UAE, bringing the bank’s nationwide network to a total of 57 branches. Two of the new DIB branches are located in Dubai – in Nad Al Hamar and Emaar Business Park – bringing the bank’s total network to 22 branches in the emirate. The third branch is located in Al Hamra Mall, Ras Al Khaimah, expanding the DIB network to a total of four branches in Ras Al Khaimah.

The expansion of the bank’s network is in line with its earlier announced strategy to open 10 new branches this year, targeting a total UAE-wide network of 64 branches by the end of 2009, which will contribute significantly to its projected annual balance sheet growth and will account for approximately 47 percent of the bank’s revenue for 2009.

“We are extremely pleased to announce the opening of three new branches in the UAE, underscoring the bank’s commitment to meeting the growing needs of its customers across the country,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, Dubai Islamic Bank.

“While the bank will continue to provide innovative customer care solutions, including through its Electronic Banking channels and by enhancing its network of Al Islami Express Banking Centres, our focus this year is on increasing the number of bricks-and-mortar branches we operate,” he said. “By the end of this year, we forecast that the bank’s total customer base will increase by approximately 15 per cent, reaching some 900,000 customers, while our retail assets business will grow by approximately 20 per cent. We will continue to expand our branch network to meet that demand.”

“The opening of new branches in Nad Al Hamar and Emaar Business Park makes banking with DIB easier and more convenient for customers who live and work in those thriving commercial and residential centres of Dubai,” said Mr. Rashid Mahboob, Head of Branches Management, Dubai Islamic Bank. “We are especially pleased to note that the Nad Al Hamar branch also includes a ladies section.”

He concluded: “We are equally happy to inaugurate our fourth branch in Ras Al Khaimah, which will offer our complete range of award-winning Sharia-compliant products and services to customers there.”

First Winners Of DIB ’Save More, Earn More, Win More’ Promotion Take Home Prizes

Dubai Islamic Bank (DIB) today announced the first 16 winners of its ‘Save More, Earn More, Win More’ deposits promotion for Al Islami Savings and Investment Deposit Accounts.

Mr. Ahmed Salem Al Shamisi, a UAE national, was the lucky winner of a Mercedes E230 Avantgarde sportscar. The Mercedes was handed over to Mr. Al Shamisi by Mr. Rashid Mahboob, Head of Branches Management, at the Dubai Islamic Bank offices. Fifteen other DIB customers took home five Home Centre vouchers of AED 20,000 each and ten Sharaf DG vouchers of AED 10,000 each – a total of AED 200,000 worth of gifts.

“DIB would like to encourage new and existing customers to benefit from this unique investment opportunity,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, DIB. “We have always focused on the evolving needs of our customers and strive to reward them on a regular basis. The ‘Save More, Earn More, Win More’ promotion gives our customers the dual benefits of high returns as well as an opportunity to win Mercedes sportscars and other great prizes. It has proven to be a big success among customers, who have responded with positive feedback, including by increasing their deposits with DIB to improve their chances of winning.”

Continuing until May 31, 2009, the promotion provides account holders the twin benefits of earning high profit rates, as well as opportunities to win prizes worth AED 1 million. To qualify for entry into the raffle draw, Al Islami Savings account holders are required to maintain an average monthly balance of AED 10,000 and get an extra entry for every additional average balance of AED 10,000.

Investment Deposit Account customers can enter into the raffle by maintaining an average monthly deposit of AED 25,000. Investment Deposit Account holders will be eligible for an extra entry in the draw for every additional deposit of AED 25,000 per month.

The second and third raffle draws will be conducted on the fifth of May and June.

Emirates Bolsters Senior Management Team With UAE Nationals

The start of the financial year heralds a bright new dawn at Emirates airline with a number of key appointments being made to bolster the senior management team.

The Dubai-based airline is committed to the recruitment of UAE Nationals into its 40,000-strong workforce and the promotion of Mohammed Mattar, Nabil Sultan and Adnan Kazim to Divisional Senior Vice President (DSVP) level is testament to the career opportunities for Emiratis.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group, believes these appointments give the airline the strength in leadership required for the years ahead.

Sheikh Ahmed said: “Mohammed, Nabil and Adnan have all shown dedication and results throughout their careers with Emirates. Their promotions are an example of our ongoing support of career progression for our Emirati workers, and it is particularly pleasing that all three have come through the ranks.

“We have made several key appointments and the combined experience of all these talented individuals ensures we have a strong team in place to tackle the challenges of the future.”

Mr Mattar, the new DSVP Airport Services, has witnessed every stage in the remarkable growth of Emirates. He joined the company in 1972, starting in a junior check-in job with Dnata, and his career has progressed in pace with development of the airport, from a humble building in the middle of the desert, to the opening last year of the state-of-the-art Terminal 3. Mr Mattar uses his vast experience, gained through the numerous key positions he held until his most recent post as SVP Airport Services, to ensure Emirates passengers receive quality service at all points during their journey.

Mr Sultan, who has been appointed DSVP Revenue Optimisation and Distribution, joined the company’s IT department in 1990, a year after graduating from America’s University of Portland. His potential was quickly spotted and after impressing in the trainee management programme he filled a succession of key roles in the commercial operations team, which is responsible for the development of revenue strategies in Emirates’ network of more than 100 destinations. He gained invaluable international experience during spells in Saudi Arabia, the UK and India, before being made SVP Commercial Operations, handling various regions from 2004 until his latest promotion.

Mr Kazim, who becomes the new DSVP for Planning and Research, is another product of the company’s successful trainee management scheme. He joined Emirates in 1992 and soon made his mark, his potential recognised with several important overseas postings. After a spell with ground handling agent Dnata he was appointed Area Manager Yemen in 1997.

The following year he was based in Kenya working as Regional Manager – East Africa before becoming Area Manager – Egypt in 2000. In 2001, he was appointed Area Manager – Switzerland and Austria, and then in 2004, he was promoted to VP – Pakistan. In 2007, he returned to Dubai and was appointed SVP – Africa before taking responsibility for Emirates’ commercial operations in the GCC, Middle East and Iran.