Jan 28 - Feb 03, 2008

Dubai Islamic Bank Pakistan (DIBP) is one of the fastest growing banks in Pakistan, recording an incremental growth of 152 percent in its total asset base which stands at Rs 21 billion as of Dec 2007.

Elaborating on the Bank's achievements, M A Mannan, CEO Dubai Islamic Bank Pakistan sounded his confidence into vibrant economy of Pakistan reassuring the bank management to progressively expand its operations in all sorts of products available in the banking system of the country.

The young CEO of DIB foresees a sparkling future of the Islamic banking which currently enjoying a 3.5 percent market share in Pakistan but it is moving in a well defined direction to augment its share to the level of 10 percent in a couple of years. Mannan feels that around 80 percent of the population is a floating customer base which can go either way but having a leaning towards Islamic way of banking if they were approached. Mannan said that in a short span of two years since the Bank commenced its operations in Pakistan. Dubai Islamic Bank customer base has grown by 228% to approximately 21,000 customers in 2007, up from 6,400 in the- year 2006. For the same period, Dubai Islamic Bank Pakistan's deposit base has grown by 273% to Rs 16.1 billion in 2007.

The share capital of Dubai Islamic Bank stands at Rs 5 billion. According to Mannan, "During the Year 2007 Dubai Islamic Bank has remained actively abreast of the industry by offering a number of world class products and services in corporate and consumer banking. Of the products introduced last year, DIB Auto Finance registered a volume of Rs 2.9 billion within 9 months of its launch. In a market where cut throat competition persists, this reflects a great success for the Bank."

On the corporate side, Dubai Islamic Bank is at the forefront of product innovation and development. During the year 2006-07, Dubai Islamic Bank arranged Sukuks worth Rs 24 billion, which is 41 % of the total domestic Sukuk issuances. Dubai Islamic Bank has played the role of lead arranger for most of the issuances it has been associated with. DIB also successfully launched SME, business which has a portfolio of over Rs 1.5 billion.

Dubai Islamic Bank Pakistan commenced operations in Pakistan in March 2006. Dubai Islamic Bank has seventeen branches in seven major cities ~ Karachi, Lahore, Rawalpindi, Islamabad, Faisalabad, Gujrat and Peshawar. DIB Pakistan is a wholly owned subsidiary of the Dubai Islamic Group headquartered in UAE. The Group has maintained its status quo as the undisputed market leader. In Islamic financing since its inception in 1975 Dubai Islamic Bank also has the honorable distinction of being the first Islamic bank in the world.

Similarly, the unique Home Finance facility, offered by Dubai Islamic Bank garnered an equally overwhelming response. Within the first, three months, DIB Home Finance was the industry leader in the entire banking industry by far achieving a milestone of the fastest billion marks. DIB Home Finance maintained its market leadership throughout the year 2007 and in only 12 months time DIB Home Finance registered a volume of Rs 2.6 billion, which is the fastest growth rate in the entire industry. Mannan attributed the overwhelming market response to distinctively unique product design and features.

The success of the Bank is not limited to the mortgage front but also resonates in other services offered by Dubai Islamic Bank Pakistan. Aside from providing regular banking services, Dubai Islamic Bank has been very active in attracting foreign direct investment in and from Pakistan.

Sharing Dubai Islamic Bank Pakistan's vision for 2008, Mannan said, 'We see the year 2008 as a bright year which will Insha' Allah take us to the next level of success in terms of growth. Our major ambition is to take continue our growth trajectory and take Islamic products more customers in Pakistan."


Dubai Islamic Bank Pakistan brings with it a legacy of outstanding success, constant innovation and a solid commitment to practice ' Islamic financing, to the letter and spirit. Dubai Islamic Bank Pakistan is a wholly owned subsidiary of the Dubai Islamic Group headquartered in UAE. The Group has maintained its status quo as the undisputed market leader in Islamic financing since its inception in 1975.

Dubai Islamic Bank commenced its operations in Pakistan, with the opening of its first branch in the commercial city of Karachi in March 2006 at Avari Towers. This was followed by operations in all major cities including Lahore, Faisalabad, Islamabad and Rawalpindi.

Dubai Islamic Bank Pakistan offers services in Consumer, Business and Corporate and Investment Banking, at par with the international banking scenario. The Bank is committed to providing Sharia-compliant solutions to major local and international companies as well as private individuals. The Bank also provides Shariah compliant home mortgage financing and has recently launched an Islamic Visa Debit Card.

Besides being on a record growth path, The Bank is also pursuing an aggressive expansion plan. The Bank already has 17 branches in place in several Pakistani cities such as Karachi, Lahore, Rawalpindi, Islamabad, Peshawar, Gujranwala and Gujrat.

Essential to the Bank's success has clearly been its close compliance with the Islamic Shariah. Dubai Islamic Bank has a Shariah and Supervisory Board, comprising of a number of well respected and knowledgeable scholars who are an integral element in the future development of the Bank. All Dubai Islamic Bank products and services are approved by the Bank's Shariah Board and are at par with those provided by conventional banks. Dubai Islamic Bank Pakistan aims to provide customers with Islamic solutions for all their financial needs. They are designed and developed as stand-alone products that are highly competitive with all other available products in the market - Islamic or conventional.

Enhancing its, reputation built on the guiding principles of ethical and responsible modes of banking and finance, Dubai Islamic Bank Pakistan remains exceptionally well-placed to meet the banking challenges as it strives for excellence in the provision of Islamic Banking for today's world. With path-breaking vision and bold strategies, Dubai Islamic Bank aims to enhance its status as an industry leader committed to the goal' of providing World Class Banking, the Islamic way. Dubai Islamic Bank Pakistan's total assets reach Rs 21 bn - a growth of 152 % in 2007.