Q&A: Dubai Islamic Bank

  • Share via facebook
  • Tweet this
  • Bookmark and Share

SME financing has long been a difficult balancing act. What steps have Dubai Islamic Bank taken to improve the options for small businesses?

The SME sector forms a critical pillar not only of the UAE economy but also Dubai Islamic Bank’s (DIB) growth strategy, and hence will see a major allocation of our product development focus and expertise.

We strongly believe that this sector will remain the backbone of the economy and, as an Islamic bank, we view the development and growth of the small businessmen and entrepreneurs as our responsibility. To this end, we have invested in developing a unique suite of products and services that are aimed at meeting the financial needs of this all-important segment.

Our SME Business Solutions Initiative, a Sharia-compliant suite of products and services has been specifically developed to support the growth of these enterprises, including business financing. The offering provides small business owners a broad range of customised solutions, ranging from the establishment of business accounts and cash management tools to trade and treasury services, as well as business credit cards.

Working with dedicated relationship managers, we allow SMEs to access working capital finance, capital expenditure finance, and contracting and fleet finance, supported by flexible repayment options.

We have focused on developing these business finance solutions to meet the specific needs of SMEs in today’s evolving market. By providing high finance amounts and rapid approvals, Dubai Islamic Bank is reshaping the SME banking space, providing a plausible and viable opportunity to unlock the potential of thousands of small and medium enterprises across the UAE.

Why are SME products so important for banks, small businesses, and for the region in general?

SMEs are widely regarded as a key growth driver of the UAE economy and have increasingly grown in importance over the past few years. Contributing to 60 percent of the UAE’s non-oil GDP and 86 percent of private sector employment, the sector has played a critical role in the diversification of the country’s economy.

As the sector continues to grow in importance, it is essential for these businesses to have access to a leading range of products designed to help entrepreneurs and small companies achieve their growth ambitions.

Article continued on next page...


Market Performance

Dubai Islamic Bank - UAE
0.06 0.76 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

Getting to know the Entrepreneurs Organisation

Getting to know the Entrepreneurs Organisation

The EO’s 17th annual closing dinner was an opportunity for entrepreneurs...

Most Discussed
  • 16
    Baby NOT on board?

    The people commenting here were all 20 years old when they were born, never cried, never screamed and never ran etc etc.

    Thursday, 21 August 2014 8:30 AM - Amer
  • 2
    European court backs French ban on full-faced veil

    well said John Harte, it is the total opposition to freedom of expression, it degrades and dehumanizes women into objects that need to be wrapped up and... more

    Friday, 22 August 2014 6:38 PM - Polly Nicoll
  • 1
    Damac says first Akoya Oxygen homes sell out 'in record time'

    You have to be desperate to buy anything from Damac and that in the furthest farthest outposts of Dubai Land. Stay near the main Drag the SZR! more

    Saturday, 23 August 2014 1:29 AM - Special K
  • 23
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 17
    UK looks to close tax loophole on expat landlords

    UK taxes too much and too complicated and time taking and confusing and continuous. Returns, lawyers, HMRC, taxes too much for too little. Not worth the... more

    Sunday, 17 August 2014 12:40 PM - AbdolRahman
  • 16
    Baby NOT on board?

    The people commenting here were all 20 years old when they were born, never cried, never screamed and never ran etc etc.

    Thursday, 21 August 2014 8:30 AM - Amer