Dubai Islamic Bank
 | |
| Type | Public bank |
|---|---|
| DFM: DIB | |
| ISIN | AED000201015 |
| Industry | Islamic banking and finance |
| Founded | 15 September 1975 |
| Headquarters | , |
Key people | Mohammed Ibrahim Al Shaibani (Chairman) Adnan Chilwan (Group CEO) |
| Products | Retail banking, Corporate banking, Investment banking |
| Revenue | AED 7,8 billion (2025) (USD 2,12 billion)[1] |
| AED 23 billion (2025) (USD 6,48 billion)[1] | |
| Total assets | AED 415 billion (2025) (USD 113 billion)[1] |
| Total equity | AED 53 billion (2025) (USD 14,46 billion)[1] |
Number of employees | Approximately 10,000 |
| Website | www |
Dubai Islamic Bank (DIB; Arabic: بنك دبي الإسلامي) is a major Islamic bank headquartered in Dubai, United Arab Emirates. Established in 1975 by Saeed bin Ahmed Lootah, it is the country's second largest lender.[2] The bank follows Sharia principles across all its activities and is the largest Islamic bank in the United Arab Emirates by assets.[3]
Dubai Islamic Bank is a public joint-stock company listed on the Dubai Financial Market.[4]
DIB was ranked 13th on Forbes Middle East's 30 Most Valuable Banks 2025 list.[5] It also ranked 22nd on Forbes Middle East's Top 100 Listed Companies 2025 list.[6]
History
The bank was founded in 1975 to offer Islamic banking services.[7]
In January 2020, DIB acquired Noor Bank.[8]
Operations
The bank's activities include retail banking, corporate banking, and SME banking, as well as trade finance, treasury services, and investment banking-related products.[9]
International presence
Bosnia and Herzegovina: Bosna Bank International – An Islamic bank established in 2000 in Sarajevo, Bosnia and Herzegovina.[10]
Indonesia: Panin Dubai Syariah Bank – A minority shareholding in an Indonesian Islamic bank.[11]
Kenya: Licensed by the Central Bank of Kenya.[12]
Pakistan: A wholly owned subsidiary established in 2006.[13]
Sudan: (Bank of Khartoum), A strategic shareholding in one of Sudan's largest banks.[14]
Subsidiaries
Financial performance
In 2024, Dubai Islamic Bank reported revenues of approximately US$6.3 billion and total assets of approximately US$94 billion.[17]
Legal cases and controversies
Ryan Cornelius fraud case
Dubai Islamic Bank was the principal complainant in a fraud case involving British property developer Ryan Cornelius.[18]
In 2010, Cornelius was convicted in Dubai of defrauding the bank and sentenced to ten years’ imprisonment.[19]
In 2018, international media reported that his detention could be extended unless liabilities exceeding US$400 million were settled.[20]
See also
References
- 1 2 3 4 "Auditor's report and consolidated financial statements for the year ended 31 December 2025" (PDF). Dubai Islamic Bank.
- ↑ "The Dubai debt trap". The Economist. 15 December 2021.
- ↑ "UAE banks post strong results". Reuters. 6 February 2024.
- ↑ "Islamic finance comes of age". Financial Times. Retrieved 15 December 2025.
- ↑ Mughal, Waqar. "Dubai Islamic Bank (DIB)". Forbes Lists.
- ↑ Mughal, Waqar. "Dubai Islamic Bank (DIB)". Forbes Lists.
- ↑ "The rise of Islamic banking". Financial Times.
- ↑ "Dubai Islamic Bank Considers Acquiring Noor Bank, Sources Say". Bloomberg News. Archived from the original on 2022-02-09.
- ↑ "Middle East banks expand services". Reuters.
- ↑ "Islamic banking in Europe". Financial Times.
- ↑ "Indonesia Islamic banking growth". Bloomberg News.
- ↑ "Kenya issues licence to shariah-compliant DIB Bank". Reuters. 15 May 2017.
- ↑ "Islamic banking growth in Pakistan". Reuters.
- ↑ "Sudan banking sector overview". Reuters.
- ↑ "About Dar Al Sharia". Dar Al Sharia.
- ↑ "Deyaar reports results". Gulf News.
- ↑ "Dubai Islamic Bank posts strong results". Gulf News.
- ↑ "Paradise lost for jailed Dubai expats". The Sydney Morning Herald. 12 August 2010.
- ↑ "British developer jailed in Dubai". Reuters. 11 August 2010.
- ↑ "The Dubai debt trap". The Economist.