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Dubai Islamic Bank (DIB) announced today the launch of the DIB Retail Banking Services Virtual Training Centre in Dubai.

The initiative will provide bank staff with advance training, experience, skills and insights to better meet the needs of the bank's clients in retail banking services. The DIB Retail Banking Services Virtual Training Centre is located at the DIB branch on Al Ittihad Road in Dubai.

The opening ceremony for the centre was attended by Khaled Kamda, DIB Group Managing Director and Chief Executive Officer, and several other senior executives from the bank. The training centre is based on a partnership with SnapShot, a leading human resources consultancy and training firm.

The training centre is one of the most sophisticated centres in the country. The centre is seen as a means for DIB to develop and improve the level of service for the banking sector throughout the region. "This initiative is a reflection of our commitment to being a financial services institution that delivers the highest level of service to its customers," said Kamda.

"The emphasis we place on training has benefited not only our customers and employees, it has also benefited the emirate's economy. In line with our efforts to lead the banking industry in the area of Emiratisation, we have produced a National workforce that is highly educated, motivated and well trained."

Kamda added: "We have received many accolades due to our position as the pre-eminent Islamic financial institution in the country and the region. This has been achieved by our steadfast dedication to providing employees with the expertise necessary to work across the entire spectrum of the banking industry. On behalf of everyone at Dubai Islamic Bank, I am extremely pleased to announce the launch of this new training centre."

Along with theory, DIB employees attending the training centre can acquire hands-on experience, through such techniques as role playing. "We have created a facility that duplicates a bank branch," said Mohammed Amiri, Retail and Business Banking chief of DIB.

"The centre gives employees the chance to hone their skills by placing them in a variety of banking scenarios. The courses we have created are 70 per cent practical and 30 per cent theoretical. The goal is to equip employees with the abilities required to take on nearly any issue that may confront a bank branch."

SnapShot helps to empower the institutions it works with by providing key information that will enable them to conduct and pursue solutions comprised of three elements: reliability, effectiveness and measurability. "Our partnership with DIB is a long-term partnership that is based on a clear understanding of requirements and mutual cooperation," said Dr. Fuad Jassim, Executive director of SnapShot.

The training centre is just one of several facilities DIB has created in recent years for its employees. In 2007, DIB created the DIB Training Academy for both management and staff. Like this training centre, the academy's purpose is to increase the skill sets of its employees, and maintain the highest quality of service possible for the bank's customer base.

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About Dubai Islamic Bank

Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices. DIB is a public joint stock company and its share is quoted on the Dubai Financial Market.

The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector.

The bank reported AED 2.5 billion in net profit for the year ending December 31, 2007, rising by 60 per cent compared to AED 1.56 billion for 2006. The bank recorded total revenues of AED 7 billion for 2007, rising by 46 per cent compared to AED 4.8 billion for 2006. Total assets in 2007 reached to AED 84.3 billion, an increase of 31 per cent compared to AED 64.4 billion in 2006.

DIB set a world record by raising a US$3.52 billion sukuk for the Nakheel Group. This sukuk adopted a structure never used before in Islamic or conventional banking history. This Sukuk adopted a 1st of its kind structure never used before in Islamic or conventional banking history.

The bank has been proactive in creating partnerships and alliances at both the local and international level. DIB has adopted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. DIB opened its first representative office in Turkey to enhance its access to that market.

DIB has also acquired a stake in Al Khartoum Bank and a stake in Emirates and Sudan Bank (ESB). These steps mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan.

DIB has won the respect of its peers around the world. The bank was recently named by Islamic Finance News the UAE's Best Islamic Bank. DIB has also received many awards from international organizations, such as the prestigious "Bank of the Year - UAE" award from The Banker magazine and additional accolades from Euromoney.

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