Company Insights Dubai Islamic Bank Banking and Finance Dubai Islamic Bank Overview The Dubai Islamic Bank (DIB) was established in 1975 by Saeed Bin Ahmed Lootah. It was the first bank in the world to incorporate the principles of Islam in all its practices. DIB is the largest Islamic bank in the UAE by assets – $79.5 billion in 2023 – and is a public joint-stock company listed on the Dubai Financial Market. It operates around 90 branches across the UAE, is present in seven markets worldwide and serves close to 1.7 million customers. Revenue in 2023 was reported at $4.2 billion. Dubai Islamic Bank says its vision is to be the most progressive Islamic financial institution in the world. In November 2022, the bank sold $750 million of its debut sustainable Islamic bond as part of plans to finance environmental and social projects under a new sustainable finance framework. Significant subsidiaries and associates include real estate company Deyaar Development, the Dar Al Sharia legal and financial consultancy firm, Dubai Islamic Bank Pakistan, Bank of Khartoum and DIB Bank Kenya. Dubai Islamic Bank News Analysis Banking and Finance Retail and corporate lending help UAE banks to prosper Consumer demand for mortgages, credit cards and personal loans as well as increased corporate and government borrowing helped most major UAE banks post double-digit rises in profits in the first quarter of this year. The profit surge, which comes despite a greater tax burden on the sector, has supported a renewed rally in banking stocks. […] June 14, 2025 Tech Gulf investors help finance growth of Turkish data centres Turkey’s data centre sector is riding a wave of new investment that is likely to support expansion in the country’s digital economy, with much of the funding coming from the Arabian Gulf. Last month, Turkish e-commerce platform Trendyol announced it was partnering with the UAE’s Castle Investments, headed by Gulf Data Hub founder Tarek Al […] June 10, 2025 Agriculture PIF-backed Olam Agri raises nearly $2bn Singapore-based agribusiness Olam Agri Holdings, partially owned by Saudi Arabia’s Public Investment Fund (PIF), has secured $1.85 billion in financing to support its business goals. The dual-tranche conventional and Islamic facility was raised by Olam Global Agri and Olam Global Agri Treasury Pte, two subsidiaries of Olam Agri — which sources, processes, trades and distributes […] June 3, 2025 Telecoms Turkcell secures $150m loan from Dubai Islamic Bank Turkey’s mobile operator Turkcell has secured its second loan from a UAE bank in a week. Dubai Islamic Bank will provide $150 million financing to fund digital infrastructure. The five-year Islamic facility will allow Turkcell to advance critical infrastructure such as data centres, cloud technologies and renewable energy, the lender said in a statement. Last […] May 28, 2025 Real Estate Omniyat raises $500m to fund sustainable projects Dubai real estate developer Omniyat has raised $500 million to fund its sustainable developments. The order book of the inaugural three-year green sukuk was oversubscribed 3.6 times, reaching $1.8 billion. The sukuk will be listed and traded on Nasdaq Dubai and the London Stock Exchange’s international securities market. The pricing details were not given. Sukuk […] May 5, 2025 Banking and Finance Adnoc to raise $1.5bn with Islamic bonds Abu Dhabi state oil giant Adnoc will raise $1.5 billion from a debut sale of Islamic bonds, or sukuk, according to a document seen by Reuters on Monday. Abu Dhabi National Oil Company, acting through its primary debt capital markets entity Adnoc Murban, is selling the sukuk at 60 basis points over US Treasuries, the […] April 29, 2025 Banking and Finance Dubai Islamic Bank reports first quarter profit increase Dubai Islamic Bank’s profits rose in the first quarter of this year, as deposits increased by more than a third and the non-performing financing ratio improved. Net profit after taxes rose 8 percent annually to AED1.8 billion ($490 million) in the first three months of 2025, driven by quality growth in earning assets. Pre-tax profit […] April 25, 2025 Analysis Banking and Finance Mashreq and First Abu Dhabi winning bank efficiency race Dubai’s Mashreq bank, the UAE’s fifth-largest by assets, slashed its cost-to-income ratio, an important banking metric, last year thanks to the partial sale of a subsidiary and more customers switching to non-interest-bearing accounts. The cost-to-income ratio shows the relation between income and the cost of acquiring that income. A declining ratio suggests that a bank […] March 5, 2025 Real Estate Damac tightens yield on $750m sukuk Dubai developer Damac Real Estate Development has sold $750 million in 3-1/2-year Islamic bond (sukuk), according to a document seen by Reuters on Wednesday. The yield was set at 7 percent, narrower than the 7.5 percent initial price guidance released earlier in the day after the orders surpassed $2.3 billion, the lead bank document showed. […] February 20, 2025 Analysis Banking and Finance Share price rally tipped to keep rolling for UAE banks A year-long rally in share prices for major UAE banks still has some steam in it, underpinned by loans growth and attractive dividend yields, analysts have said. In the 12 months to February 11, the share price of Abu Dhabi Commercial Bank (ADCB) surged by almost 40 percent. Shares in Emirates NBD, Mashreq and Dubai […] February 19, 2025 Posts navigation 1 2 … 6 Next
Analysis Banking and Finance Retail and corporate lending help UAE banks to prosper Consumer demand for mortgages, credit cards and personal loans as well as increased corporate and government borrowing helped most major UAE banks post double-digit rises in profits in the first quarter of this year. The profit surge, which comes despite a greater tax burden on the sector, has supported a renewed rally in banking stocks. […] June 14, 2025
Tech Gulf investors help finance growth of Turkish data centres Turkey’s data centre sector is riding a wave of new investment that is likely to support expansion in the country’s digital economy, with much of the funding coming from the Arabian Gulf. Last month, Turkish e-commerce platform Trendyol announced it was partnering with the UAE’s Castle Investments, headed by Gulf Data Hub founder Tarek Al […] June 10, 2025
Agriculture PIF-backed Olam Agri raises nearly $2bn Singapore-based agribusiness Olam Agri Holdings, partially owned by Saudi Arabia’s Public Investment Fund (PIF), has secured $1.85 billion in financing to support its business goals. The dual-tranche conventional and Islamic facility was raised by Olam Global Agri and Olam Global Agri Treasury Pte, two subsidiaries of Olam Agri — which sources, processes, trades and distributes […] June 3, 2025
Telecoms Turkcell secures $150m loan from Dubai Islamic Bank Turkey’s mobile operator Turkcell has secured its second loan from a UAE bank in a week. Dubai Islamic Bank will provide $150 million financing to fund digital infrastructure. The five-year Islamic facility will allow Turkcell to advance critical infrastructure such as data centres, cloud technologies and renewable energy, the lender said in a statement. Last […] May 28, 2025
Real Estate Omniyat raises $500m to fund sustainable projects Dubai real estate developer Omniyat has raised $500 million to fund its sustainable developments. The order book of the inaugural three-year green sukuk was oversubscribed 3.6 times, reaching $1.8 billion. The sukuk will be listed and traded on Nasdaq Dubai and the London Stock Exchange’s international securities market. The pricing details were not given. Sukuk […] May 5, 2025
Banking and Finance Adnoc to raise $1.5bn with Islamic bonds Abu Dhabi state oil giant Adnoc will raise $1.5 billion from a debut sale of Islamic bonds, or sukuk, according to a document seen by Reuters on Monday. Abu Dhabi National Oil Company, acting through its primary debt capital markets entity Adnoc Murban, is selling the sukuk at 60 basis points over US Treasuries, the […] April 29, 2025
Banking and Finance Dubai Islamic Bank reports first quarter profit increase Dubai Islamic Bank’s profits rose in the first quarter of this year, as deposits increased by more than a third and the non-performing financing ratio improved. Net profit after taxes rose 8 percent annually to AED1.8 billion ($490 million) in the first three months of 2025, driven by quality growth in earning assets. Pre-tax profit […] April 25, 2025
Analysis Banking and Finance Mashreq and First Abu Dhabi winning bank efficiency race Dubai’s Mashreq bank, the UAE’s fifth-largest by assets, slashed its cost-to-income ratio, an important banking metric, last year thanks to the partial sale of a subsidiary and more customers switching to non-interest-bearing accounts. The cost-to-income ratio shows the relation between income and the cost of acquiring that income. A declining ratio suggests that a bank […] March 5, 2025
Real Estate Damac tightens yield on $750m sukuk Dubai developer Damac Real Estate Development has sold $750 million in 3-1/2-year Islamic bond (sukuk), according to a document seen by Reuters on Wednesday. The yield was set at 7 percent, narrower than the 7.5 percent initial price guidance released earlier in the day after the orders surpassed $2.3 billion, the lead bank document showed. […] February 20, 2025
Analysis Banking and Finance Share price rally tipped to keep rolling for UAE banks A year-long rally in share prices for major UAE banks still has some steam in it, underpinned by loans growth and attractive dividend yields, analysts have said. In the 12 months to February 11, the share price of Abu Dhabi Commercial Bank (ADCB) surged by almost 40 percent. Shares in Emirates NBD, Mashreq and Dubai […] February 19, 2025
