Dubai Islamic Bank shareholders approve 25% dividend

Dubai: Shareholders of Dubai Islamic Bank (DIB) has approved a 25 per cent cash dividend of the paid-up capital, aggregating to an amount of Dh1.8 billion.

For the year 2021 DIB reported a 39 per cent year-on year increase in net profit. Other concluded agenda items at the AGM included the agreement the confirmation on the appointment of the Internal Sharia Supervision Committee and the reappointment of the bank’s external Auditors for year 2022, along with passing the special resolutions.

“DIB’s progress has been synchronised with that of the UAE, ensuring the bank plays a leading role in supporting the growth trajectory the country. The foundation created in 2021 will help propel us further in two critical areas – our digital aspirations and our absolute commitment to the Sustainability agenda of the country,” said Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank.

DIB’s 2021 performance comes on the back of a steady return to local and regional economic growth, the bank’s focus on prudent risk management and a sustained reduction in operating expenses.

“We aspire to remain a growth focused organization where technology will provide the impetus and customer experience will dictate the execution, as we deliver on our promise for a prosperous and sustainable future for all our stakeholders,” said,” Dr. Adnan Chilwan, Group CEO of DIB.