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Dubai Islamic Bank is a public joint stock company located in Dubai. The bank is the world's first full Islamic bank and was established in 1975. The bank is a continuously growing bank that comprises over 400 institutions with assets under management in excess of $1 trillion. The bank was founded by Haj Saeed Bin Ahmed Al Lootah, a self-made Emirati businessman known for his philanthropic work and adopting many orphans.
The bank works off of five core values:
- Inclusive—Accessible to all and without bias
- Collaborative—Connected as a team to deliver banking with ease
- Agile—Fast solution delivery and committed to providing happy experiences
- Responsible—Fair, transparent, and accountable in making responsible decisions
- Engaged—Passionate and committed to delivering fulfilling journeys.
Dubai Islamic Bank incorporates a graduate program that assists students with their professional development in the social and economic development of the nation. The bank offers mobile banking, paperless branches, advanced technology, and smart payments.
The bank's current Director General of His Highness The Ruler's Court of Dubai and Chairman of Dubai Islamic Bank is His Excellency Mohammed Ibrahim Al Shaibani. The chief executive officer of Dubai Islamic Bank is Dr. Adnan Chilwan. Shaibani has held the position of president at the Dubai Office since 1998. He was formerly based in London for eight years and now oversees the functioning of his office from Dubai. Shaibani began his professional career with the Dubai Ports Authority & Jebel Ali Free Zone and was there for seven years. He graduated in 1988 with his bachelor's degree in computer science.
The bank's June 2022 financial results showed a 45 percent growth in group net profit YoY due to rising core revenues and sustained lower impairments. Overall, excluding regular repayments and maturities, the bank saw an AED 20 billion growth. Dubai Islamic Bank reached a total income of AED 6,265 million compared to AED 5,842 million the previous year.
