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The Dubai Islamic Bank (DIB) is an Islamic bank in Dubai, established in 1975 by Saeed Bin Ahmed Lootah.It is the first Islamic bank in the world to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the United Arab Emirates.
Bank Name [1] Bank name (in Arabic) Headquarters Stock code (if applicable) [2] [3] Abu Dhabi Commercial Bank: بنك أبوظبي التجاري: Abu Dhabi: ADX: ADCB: Abu Dhabi Islamic Bank
He began work for Dubai Islamic Bank in 2008, first serving as the Chief of Retail Banking and later as the Deputy Chief Executive Officer. [5] [6] In 2010, he became a founding member of the board of directors for the Sharia-compliant Emirates Real Estate Investment Trust, a joint venture between Dubai Islamic Bank and Eiffel Management. [7]
The Dubai Islamic Bank (DIB) fraud case was a case originally brought in 2008 that involved the alleged embezzlement of 1.8 billion Dirhams (approximately US$501 million or £330 million) by a group of six (originally seven) bank executives and expat businessmen over the period 2004-2007.
In 1975, the Islamic Development Bank was set up with the mission to provide funding to projects in the member countries. [72] The first modern commercial Islamic bank, Dubai Islamic Bank, was established in 1979. [73] The first Islamic insurance (or takaful) company – the Islamic Insurance Company of Sudan – was established in 1979. [65]
Website. www.dubaibank.ae. Dubai Bank was an Islamic bank based in Dubai, UAE. The bank was launched in September 2002 and transformed into Shari’a -compliant financial institution with on 1 January 2007. Dubai Bank was part of the Dubai Group, a Dubai Holdings company. On 1 December 2012 the bank was acquired by Emirates NBD. [1][2][3]
Habib Bank Limited. HSBC Bank Middle East Limited. ICICI Bank Limited. MashreqBank psc. National Bank of Abu Dhabi (Bahrain Branch) National Bank of Bahrain BSC. National Bank of Kuwait S.A.K. Rafidain Bank. Standard Chartered Bank. State Bank of India. The Housing Bank for Trade and Finance - Jordan United Bank Limited.
Emirates Islamic. Emirates Islamic (Formerly known as Emirates Islamic Bank) is one of the four Islamic banks in Dubai, United Arab Emirates. [1] The bank was established in 2004 to deliver banking services in line with Shari'a principles. It offers products designed for individuals and small businesses as well as large corporations.