Dubai Islamic Bank Group brings its growth agenda to Dubai Islamic Bank Pakistan

Karachi, April 26, 2016 (PPI-OT):Dubai Islamic Bank’s Group Chief Executive Officer Dr. Adnan Chilwan, on his first ever visit to Pakistan, outlined the detailed growth strategy for the franchise in the country at a town hall attended by the board members, management and the staff of DIB Pakistan. This newly defined strategy repositions the Bank’s medium term plans alongside the transformational growth the Group has achieved as part of their 2014-2016 strategic agenda. The unveiling of the Bank’s new identity and branding reinforces the alignment of the local franchise with DIB Group’s overall positioning. The event also marked and celebrated the successful 10 years of the Bank’s operations in the country.

Dr. Adnan Chilwan is a leading authority in the field of Islamic Banking and Finance. With solid repute in the industry, he has been recognized by notable international organizations for his efforts in driving the globalization of Islamic Finance to the globally accepted and established standing it has today. For a second year in a row, Dr. Chilwan has been ranked amongst the top 10 at the Top CEO Awards 2016, which recently awarded him the prestigious 6th ranking amongst top 100 CEOs in the GCC region.

Speaking on the occasion, Dr Chilwan said: “Pakistan is a strategic country for DIB Group and the franchise here is an integral part of our ever-expanding global operations. Over the last two years, our consolidated performance at the group level has been phenomenal, particularly given the challenging global macro-economic landscape. Outperforming the market by 3-4 times consistently over the last eight quarters meant not just capitalizing on existing business but also creating opportunities where none existed. Whilst being cognizant and aware of the business and geo-political environment around us, we worked together to create this platform, which now promises sustained future performance as long as we keep our focus and commitment intact.”

“Our strategy is simple,” he added. “Target the entire market, not just a niche. That’s how we have grown so rapidly and that is exactly how we will sustain this momentum going forward. What we have achieved in the last two years has eclipsed all previous performance and it is now time to replicate the same success in Pakistan. The significant evolution in Islamic banking offerings means that any customer, corporate or retail, can be served. I congratulate you all on a successful decade of DIB operations in Pakistan and look forward to your commitment and focus as we together make Islamic banking and finance, a norm rather than an alternative”.

Dubai Islamic Bank (DIB) was established in 1975 as the world’s first Islamic Bank in the UAE. With Group assets of nearly USD 41bln, a market capitalization of around USD 7.0bln, and workforce of more than 8000 employees within the group, the organization is fast being recognized as a formidable force in Islamic Finance and one of the most progressive Islamic Finance institution in the world. Currently, DIB has presence across all emirates in the UAE with growing international operations in Asia, Middle East and Africa.

Celebrating the 10 years in the country, Junaid Ahmed, CEO DIB Pakistan said: “DIB Group has a rich and dynamic 40 year history. As a pioneer of modern Islamic banking, the bank is viewed as the key influencer in the progression and advancements in the field of Islamic finance. From establishment of operations just 10 years ago to a franchise that boasts more than 240 locations across 62 cities in Pakistan, is phenomenal growth indeed and something we are all extremely proud of. Today’s gathering is a clear reflection of the Group’s commitment to the local franchise in Pakistan as we endeavour to strengthen and grow our business in this market. I would like to thank Dr. Adnan and the board for their continuous support and wish all of you many more successful years ahead”.

For more information, contact:
Ali Ather
Marketing Manger
Dubai Islamic Bank Pakistan Limited
Ph: 35368644- 0300-8232705-0331-7869229