Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded the Global Islamic Business Award in the first ever edition in the region.

The award was presented by Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai to Dr Adnan Chilwan, Group chief executive officer, Dubai Islamic Bank. It was presented as part of the 23rdedition of the Business Excellence Awards at a ceremony recently in recognition of outstanding pursuits of excellence.

Launched in 2016, The Global Islamic Awards are led by the Global Islamic Business Excellence Center (GIBEC), an initiative of Dubai Economy. The awards were initiated to encourage Islamic economic activity and more holistically benefit society.

Given the objective of the award, participating companies included not only Islamic financial institutions but firms from the real estate, food and other core market sectors. The development of the wider Islamic economy is expected to attract new foreign direct investment and further promote economic and business sustainability across the UAE.

“This is indeed an extremely proud moment for the bank,” said Dr Chilwan. “Our goal since the humble beginnings more than forty years ago was to establish Islamic banking and finance, not just as a viable alternative, but perhaps the more favoured one.”

“I personally, and all of us here at DIB truly see ourselves as fortunate and blessed to have the support of the leadership of the emirate. The focus of the Government of Dubai in establishing the emirate as the global capital of Islamic economy is without doubt a major factor in the exponential growth witnessed by the Islamic finance industry over the years. Today, the sector has become the cornerstone of the financial sector in the country and is ready and poised to support the other business segments within the wider Islamic economy,” he added. – TradeArabia News Service