DIB wins “Best Islamic Card” and “Best SME Card” at Banker Middle East Product Awards 2014

Accolades reiterate bank’s leadership in providing services across consumer and business banking segments

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has won the award for “Best Islamic Card” for a second consecutive year at the Banker Middle East Product Awards 2014. The bank was also recognised for the “Best SME Card” at the awards.

Organised by publisher CPI Financial, the annual awards ceremony celebrates the best regional banking products and services, and is widely respected by the banking industry. The winners of the awards are chosen by registered users of CPI Financial, which include a number of the region’s top financial services professionals. With thousands of votes cast each year, this ceremony is acknowledged as one of the most credible in the industry.

Commenting on the awards, Dr. Adnan Chilwan, Chief Executive Officer at Dubai Islamic Bank said: “With nearly four decades of experience and vintage, we at DIB, recognize the importance of Consumer and SME business for the development and progression of the economy of UAE. The last few years have seen significant investment of both our intellectual as well as financial capital to this business leading to continuous innovation within our growing products and services suite enabling us to meet the constantly evolving needs of our customers. Consumer and SME together now form the largest business for the bank boasting one of the most expansive customer base in the country. While the recognition we have received clearly highlights the strength and well-entrenched nature of DIB’s retail franchise, it is also indicative of our commitment to actively promote and encourage entrepreneurship in the UAE. As we remain fully aligned and committed to the transformation that Dubai and the UAE will witness in the near future, both these segments will continue to form a key component of our growth agenda over the coming years.”

With one of the largest consumer bases in the UAE, consisting of over 1.4 million customers and a network of more than 85 branches, DIB’s consumer banking division has led the way in blazing a trail of innovation in the industry. The Al Islami Credit Card and the Al Islami Business Credit Card provide individual and business customers respectively with a range of unique benefits and privilege to fulfil their specific needs.

Speaking at the event, Raju Buddhiraju, Chief of Consumer Banking, Dubai Islamic Bank, said: “Winning the award for the “Best Islamic Card” for a second year in a row highlights the success of our strategy to deliver value-based banking products to our customers. The Al Islami Credit Card is inarguably the best value Card in the market and combines convenience with global acceptance. With the SME sector playing an increasingly critical role in the diversification of the UAE’s economy, we are also pleased to be recognised for the Best SME card and this is a testament to the investments we have made in creating the leading range of products for our business banking clients.”

This year’s awards build on the recognition that DIB has received at previous years’ events, including awards for “Best Sukuk Arranger,” “Best Structured Product” and “Best Distance Banking.” The accolades also add to the awards the bank has recently won, including the award for “Best Credit Card” at the Islamic Business & Finance Awards 2013 and the “Best Sukuk House” at the EMEA Finance Awards 2013.