It constitutes 25% of the paid-in capital

Dubai Islamic shareholders agree to distribute dividends of 1.8 billion dirhams

The general meeting of "Dubai Islamic" was held in a hybrid system.

From the source

Dubai Islamic Bank announced the conclusion of its annual general assembly meeting, which was held in a hybrid system for the first time in the bank's history.

In a statement, the bank stated that the shareholders approved, during the meeting, the bank's financial statements for the year 2021, as well as other items that were approved.

Other agenda items at the annual general meeting included agreeing to distribute cash dividends of 25% of the paid-up capital, with a total value of 1.8 billion dirhams, in addition to confirming the appointment of the Internal Shari’a Supervisory Committee, and the reappointment of the bank’s external auditors for the year 2022.

strong performance

The bank recorded an annual growth of 39% in its net profits for the year 2021, due to a strong improvement in its performance with the start of the “Covid-19” pandemic.

Dubai Islamic also continued to consolidate its position in the capital and finance markets during 2021, with the completion of deals with a consolidated value of close to 25 billion dollars by the end of the year.

The bank was also appointed during the year to offer more than 20 sukuk deals and joint financing deals for national companies, sovereign and quasi-sovereign companies, and financial companies and institutions, at a time when the bank still occupies the highest ranks in the “Bloomberg” rating list for banks.

digitization and sustainability

The Director General of His Highness the Ruler's Court of Dubai, and Chairman of the Board of Directors of Dubai Islamic Bank, Mohammed Ibrahim Al Shaibani, said:

“The foundations laid in 2021 will help drive us forward in two very important areas, our digital aspirations, and our absolute commitment to the country’s sustainability agenda,” noting that DIB sees these two pillars as the main drivers of business development, growth and profitability in the future. , which essentially leads to higher returns for shareholders.

And Al Shaibani continued: “After its unparalleled success in overcoming the consequences of the global pandemic and the economic effects that it entailed, Dubai Islamic Bank is today on the right track to enhance its strength, expand its scope, improve its long-term resilience, and align its orientations with the UAE’s economic and commercial recovery plan. It enhances its ability to achieve sustainable and responsible growth.”

Market Challenges

For his part, Dr. Adnan Chilwan, Group CEO of Dubai Islamic Bank, said: “We have proven time and time again the ability of (Dubai Islamic) to successfully overcome market challenges and provide growth opportunities that seem almost non-existent.

He added, "The year 2021 was no exception to this, as the total financing amounted to 36 billion dirhams, and a growth of 39% in annual profits."

• «Dubai Islamic» completed deals with a consolidated value of nearly 25 billion dollars in 2021.

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