Dubai Islamic Bank - UAE

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Recent Articles

• Dubai developer Deyaar Q2 up 184% 20 July 2008

  Dubai Islamic Bank affiliate posts $67mn profit on back of sales and international expansion.

• Dubai Islamic's sharia consultancy to expand abroad20 July 2008

  Unit to target UAE first then expanding markets in Pakistan and the UK in 2009.

• Dubai Islamic, Global fund eyes three deals by Q330 June 2008

  Fund to do deals with Turkish, Indian financial services firms and Gulf retailer.

• $500mn Islamic buyout fund set up25 June 2008

  Dubai Islamic and Kuwait's Global Investment House establish sharia compliant fund.

• Bank probe sparks calls for compliance23 June 2008

  Better bank compliance, transparency urged in wake of investigation into irregularities at Dubai Islamic.

• Nakheel, Dubai Islamic in $544mn property venture21 June 2008

  New firm, Tashyed, to target UAE's real estate market, set to begin 2 projects.

• Senior JP Morgan exec detained in DIB probe15 June 2008

  Omair Mooraj second former Dubai Islamic employee caught up in fraud investigation.

• Dubai Islamic says financials unaffected by corruption probe11 June 2008

  Statement comes after reports former VP and six others under investigation.

• Former Dubai Islamic Bank exec detained5 June 2008

  Ex-vice president of UAE's largest Islamic lender questioned in fraud probe.

• Deyaar to beat 'expectations' - chairman28 May 2008

  Developer will defy profit forecasts, despite police investigation, Al-Shaikh says.

• Dubai Islamic Bank downgraded by Merrill20 May 2008

  Dubai Islamic Bank hit by the police investigation into its property affiliate Deyaar.

• Increased lending boosts Dubai Islamic profit29 April 2008

  Bank sees Q1 profit rises 31% to $151.4mn, helped by lending to UAE's realty sector.

• Third arrest in Deyaar probe28 April 2008

  Lebanese national becomes third person arrested over alleged financial irregularities at Deyaar.

• Bahrain's United Gulf buys into Dubai Islamic unit30 March 2008

  Lender agrees undisclosed stake in Millennium Finance to help it expand.

• DIB and Dodsal Engineering & Construction in AED 577 million agreement17 March 2008

  Agreement to finance Dodsal's new pipeline replacement project awarded by GASCO.

• Dewa loan syndication closed13 March 2008

  State-owned utility shuts syndication of $2bn one-year Islamic loan, banking source says.

• Gulf markets rebound12 March 2008

  Stocks across region push markets to higher close, bar Saudi which drops for fifth time in six days.

• Kuwait, Abu Dhabi and Qatar best markets to invest24 February 2008

  And banks and telecom companies the most attractive industries, Morgan Stanley says.

• Gulf Islamic bank assets to hit $300bn20 February 2008

  Twenty-two Islamic banks set to grow stronger over decade, says investment bank Morgan Stanley.

• Emaar earnings to drop15 January 2008

  EFG-Hermes report forecasts bleak Q4 for Dubai developer, Union Properties and Dubai Islamic Bank.

• Ladies only card launch2 January 2008

  Dubai Islamic Bank's ladies banking division Johara has launched two new products; the Johara Al Islami credit card and an auto finance service exclusively for women.

• Dubai Islamic Bank in National Bonds tie-up10 December 2007

  Dubai Islamic Bank has joined forces with the emirate's ‘National Bonds' savings scheme, to make it available in all DIB's 45 outlets.

• DIB makes smallest quarterly profit in a year31 October 2007

  Dubai Islamic Bank sees Q3 net income rise 25.2% to $106.2mn, missing forecasts.

• Dubai Islamic loses CEO 10 October 2007

  After losing two senior staff last month, DIB CEO Saad Abdul Razak to step down to take gov't job.

• Gulf firms raise $4.8bn in IPOs9 October 2007

  Figures reflect growing capital base and confidence in regional markets, according to Ernst & Young.