His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Center, confirmed that Dubai “continues, in the light of the vision and directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to establish its position as a global capital For the Islamic economy, by consolidating the pillars of an attractive and friendly business environment for business and investors, and providing a number of investment advantages, guaranteeing them the highest levels of competition between cities and financial and business centers worldwide.

MyBank joining

His Highness Sheikh Maktoum bin Mohammed bin Rashid welcomed the addition of "My Bank Islamic Bank" to the list of partners of the Dubai International Financial Center, including banks, banks and international financial institutions, that participate in a major role in leading the transformation and development of the financial sector in Dubai and the UAE, as the first specialized center It is one of its kind in the Middle East, Africa and South Asia, which reinforces the confidence that the global financial institutions in Dubai have, which is the most important financial platform for them to launch their services at the regional and international levels.

His Highness said: «The Islamic financial services sector is one of the most important pillars of the Islamic economy, which we continue to work to update its strategy in Dubai to be its new capital globally, and the choice of major financial institutions and banks specialized in this sector to expand its business in the region from Dubai, strengthens our steps in this direction We are looking forward to working closely with our partners from all over the world, to discover more opportunities to develop and develop Islamic financial services, which today have become highly popular even outside the Islamic countries, in a way that promises a promising future. We are working to have an influential role in shaping its features » .

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum witnessed the opening of the "My Bank Islamic Bank", which is the largest Islamic bank in Malaysia and Southeast Asian countries, its first branch outside Malaysia in the Dubai International Financial Center, in the presence of the Chairman of the Board of Directors of "Mai Bank Group" Datuk Muhyani Shamsuddin, Chairman of the Board of Directors of "My Islamic Bank", Zain Al-Abidin Jamal, and the Malaysian Ambassador to the country, Muhammad Tard Bin Sufyan.

Head center

To that, the governor of the Dubai International Financial Center, Issa Kazim, said that "the center continues its role in stimulating growth engines in the Islamic finance sector, which provides products and services compatible with Islamic law to more than 600 million Muslims in the Middle East and Africa alone."

He added, “In line with the direction of the leadership in Dubai for the city to be the capital of the Islamic economy, we are committed to continuing to support the growth of Islamic Sharia-compliant transactions in the Dubai International Financial Center, in a way that supports the transformation of the future of the financial sector. We are pleased to welcome (My Islamic Bank) to establish its regional headquarters in Dubai, as a major center for Islamic finance in the region. ”

An important achievement

For his part, CEO of “My Islamic Bank” and “My Bank” banking group, Dato Mohamed Rafik Mirkan, stressed that “the launch of the bank’s operations in the Dubai International Financial Center is an important achievement that establishes the group’s position as the first Malaysian Islamic banking group to establish a presence Externally to her. ”

He added: “Dubai is unique as a leading center for the Islamic economy, and we believe that the opening of our new branch here came at an appropriate time, to take advantage of the growing demand for financing solutions in the global halal products economy, and to establish a link between the Gulf region and Southeast Asian countries, which represents the fifth The largest economy in the world, and we are looking forward to making our Dubai branch a main center for our operations in the MENA region. ”

And Mercan stressed that the "My Bank" banking group is always keen on enhancing the position of "My Bank Islamic" in the global Islamic finance sector, noting that the opening of the bank's branch in a leading global platform for Islamic finance such as the Dubai International Financial Center, is a promising achievement in the bank's career .

In the same context, Brian Sterwall, CEO of the Dubai Financial Services Authority, said, "The opening of the (My Islamic Bank) branch is evidence of the growing presence of the Dubai International Financial Center, a global platform for Islamic finance." He stressed that the Dubai Financial Services Authority will continue its efforts to establish a regulatory environment in support of Islamic finance.

"My Islamic Bank" branch in the Dubai International Financial Center will be headed by Nick Jawharis Ahmed, who has more than 20 years of experience in the financial services field, especially the debt financing solutions of companies that comply with Islamic law.

$ 57.3 billion in total assets

"My Islamic Bank", which has total assets of more than $ 57.35 billion on September 30, 2019, is the arm of Islamic banking services of the "My Bank Group" (Malayan Banking), which is the largest financial and banking institution in Malaysia, and it is one of the The most prominent banks on the Bloomberg list of international Sukuk issuances.

Corporate financing solutions

The “My Islamic Bank” branch was opened under a license granted by the Dubai Financial Services Authority to a bank that provides Islamic banking services in full, making it the first Islamic bank in Malaysia to expand its business abroad.

The “My Islamic Bank” branch will focus on Islamic banking services for companies, in addition to corporate financing solutions, treasury markets, capital and commercial financing.

The opening of the branch in the Dubai International Financial Center will contribute to promoting the rapid growth of institutions specialized in Islamic banking and financial services, in addition to keeping pace with the strong growth in the base of Islamic assets managed within the center.

"My Islamic Bank" joins more than 2,300 active registered companies that have chosen the Dubai International Financial Center as an ideal base for easy access to the fast growing markets of South Asian countries, while the center continues to develop its leading global business environment and support the growth of banking business in compliance with the provisions of Islamic law, in line with the vision of the rational leadership in strengthening the position of Dubai as the capital of Islamic finance.

- My Islamic Bank joined 2,300 companies in the Dubai International Financial Center.