The Dubai Islamic Bank (DIB) has expanded its operational network in the UAE with the opening of its second branch in Al Ain yesterday and the announcement of its plans to set up four more branches in other parts of the country.

Two of the planned branches will be located in Dubai, at Sheikh Zayed Road and Dubai Internet City, and one each in Sharjah and Khor Fakkan.

With this addition, the total number of DIB branches in the UAE will rise to 18.

The DIB's new branch located at the Al Ain Mall, was yesterday opened by Sheikh Sultan bin Tahnoon Al Nahyan, undersecretary of the Office of the Ruler's Representative in the Eastern Region.

The opening ceremony was attended by senior bank officials including Abdullah Nasser bin Howaileel, director and board member of DIB, Butti Khalfan bin Darwish, general manager, and local dignitaries.

Sheikh Sultan said Al Ain has recently witnessed rapid growth, particularly in the economic, tourism and construction sectors.

The opening of the new DIB branch, he noted, reflects the growing interest of both the private and public sector in investing in Al Ain.

Dr Mohammed Khalfan bin Kharbash, Minister of State for Finance and Industry and chairman of DIB, said in a message that the new Al Ain branch is a response to the growing demand in the city for the bank's diverse portfolio of banking services.

"This also reflects our strategy to open auxiliary branches that are geographically spread across the city which, in turn, serve to reduce pressure on the main branch," he added.

The Al Ain Mall branch will operate daily between 10am and 1pm and again from 5pm to 9pm.

The branch will offer specialised consultation and advice on financial planning, and a choice of banking accounts such as term deposit accounts, saving accounts and current accounts. It also offers a range of finance and foreign exchange services, in addition to the bank's recently launched Internet banking services.

Bin Darwish said that DIB would continue to launch similar branches, as well as new initiatives and services that are in accordance with the Islamic Sharia and compliant with Islamic financial schemes.