DIB named UAE's best Islamic bank

Dubai Islamic Bank (DIB) has been named Best Islamic bank in the UAE at the Islamic Finance News Awards 2007.

The awards recognise leadership and overall excellence across the Islamic banking sector and are judged by prestigious members of the global Islamic finance industry. DIB has been honoured for its numerous accomplishments during 2007.

One of the most prominent deals recognised by the awards was the Best Sukuk and UAE Deal for the Jebel Ali Free Zone Sukuk. The deal was the largest rated straight Sukuk issue as well as the first local currency (Dhs) denominated corporate Sukuk placed in international markets.

Khaled Al Kamda, Group Managing Director and CEO of DIB, was on hand at Dubai's Shangri-La Hotel, on February 26, 2008, to receive the award for the bank. DIB also won in two other categories: Best Djibouti Deal of the Year and Best IPO Deal of the Year.

DIB was named Best Islamic Bank through a poll conducted by Islamic Finance News, with more than 1,000 members of the global Islamic finance industry voting. For its other two awards of the evening, DIB was chosen from hundreds of submissions by a panel of experts within the Islamic finance industry.

The Islamic Finance News Awards are one of the leading award ceremonies for the Islamic finance industry. Banks and financial institutions are chosen by their peers from one of the industry's most comprehensive surveys. The survey covers 35 categories, and virtually every financial institution that engages in the Islamic finance industry is a participant.