UAE's largest Islamic bank DIB gets new chairman in Fadhel Al Ali
Dubai Financial Services Authority chairman takes over at UAE's largest Islamic lender
Dubai: DIB has appointed Fadhel Abdulbaqi Al Ali as chairman of its board of directors, effective 30 September 2026, the UAE's largest Islamic bank said on Wednesday.
Al Ali succeeds Mohammed Ibrahim Al-Shaibani, who stepped down as chairman and board member on 20 September for personal reasons. The bank did not give further details on his departure.
3 decades of leadership
Al Ali has more than 30 years of experience across corporate governance, banking, investment, real estate and hospitality. He is chairman of the Dubai Financial Services Authority and Majid Al Futtaim Capital, and sits on the board of the Commercial International Bank of Egypt.
He is also a member of the Higher Committee for the Development of the Economic and Financial Sector and the Financial Stability Council. His previous roles include chief executive of Dubai Holding and deputy chief executive and group chief operating officer of First Abu Dhabi Bank.
He is also a member of the Higher Committee for the Development of the Economic and Financial Sector and the Financial Stability Council. His previous roles include chief executive of Dubai Holding and deputy chief executive and group chief operating officer of First Abu Dhabi Bank.
The board said it was confident his leadership experience and record of institutional stewardship would support DIB in its future endeavors of positioning the bank as a leading Islamic financial group. The Board also thanked Mohammed Ibrahim Al-Shaibani, for his service, saying his leadership supported the bank's growth and transformation.
DIB said it remains focused on its long-term strategy and will maintain governance and financial discipline while pursuing sustainable growth.
Established in 1975, DIB is listed on the Dubai Financial Market and is the UAE's largest Islamic bank by assets. It describes itself as the world's first full-service Islamic bank.
Aim to make Islamic Banking a norm
The group has assets of more than $115 billion and a market capitalisation of over $18 billion. It employs around 12,000 people and runs more than 540 branches across the Middle East, Asia and Africa, serving more than 11 million customers. Its operations span the UAE, Pakistan, Turkey, Indonesia, Kenya, Sudan and Bosnia.
The bank acquired Noor Bank, holds a stake of nearly 25% in Indonesia's Panin Dubai Syariah Bank, and recently took a 25% minority stake in Türkiye's T.O.M. Group.
