Dubai Islamic Bank, the UAE’s largest Islamic bank, took home the title of ‘Strongest Islamic Retail Bank’ in the UAE 2017 at the Islamic Retail Banking Awards (IRBA) for the third consecutive year
Hosted by Cambridge IF Analytica, the third Islamic Retail Banking Awards (IRBA) took place at the JW Marriott Marquis Hotel in Dubai on November 14, 2017. Held annually, the IRBA commemorates the success and contributions of Islamic banks and financial institutions to the Islamic retail banking and finance industry over the past year, across the region.
The judging process for the ‘Strongest Islamic Retail Bank’ was based on a rigorous efficiency analysis undertaken by a panel of leading experts, becoming a benchmark in assessing the performance of Islamic Retail Banks all over the world. The analysis takes into account a number of factors that contribute to the cost-effectiveness and productivity of the Islamic bank.
Sanjay Malhotra, Chief of Consumer Banking at DIB said: “It is an honor for DIB to be recognized once again as the ‘Strongest Islamic Retail Bank in the UAE’. This award provides us with further impetus to drive Islamic retail banking forward as a core component of the Islamic Banking and Finance (IBF) sector globally. While a number of activities and sub-sectors play an important role, retail banking is a critical part of the IBF sector. And being consecutively recognized as the strongest bank in the Islamic retail space reinforces DIB’s position as the ‘bank of choice’ for our 1.7 million customers.
At DIB, we remain committed to enhancing our customers’ banking experience by providing them with a unique combination of innovative products, exceptional services, and unparalleled expertise. With customer centricity being at the core of what we do, our priorities will continue to be focused on strengthening and establishing long-term relationships with our customers while meeting their evolving requirements.”
DIB maintains its dominance in the Islamic Finance space as the largest Islamic bank in the UAE and amongst the top four banks in the country. The bank is also rapidly growing its footprint outside traditional borders and has established a strong presence in Indonesia, Pakistan, and East Africa – thereby penetrating the norm of Islamic Finance into newer markets.
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