Dubai Islamic Bank (DIB) is an Islamic bank headquartered in Dubai, United Arab Emirates. Established in 1975 by Saeed bin Ahmed Lootah, it is widely recognised as the worldâÂÂs first full-service Islamic bank. The bank operates in accordance with Sharia principles across all its activities and is the largest Islamic bank in the United Arab Emirates by assets.
Dubai Islamic Bank is a public joint-stock company listed on the Dubai Financial Market and is regarded as a leading institution within the global Islamic finance industry.
Founded in 1975, Dubai Islamic Bank was established to provide banking services structured in accordance with Islamic principles. Over time, the bank expanded its operations and product offerings, contributing to the development of the modern Islamic banking sector.
As of 2024, DIB operates an extensive branch network across the United Arab Emirates and maintains an international presence through subsidiaries and strategic investments.
Dubai Islamic Bank provides a range of financial services comparable to those offered by other large commercial banks, structured in accordance with Sharia principles.
The bankâÂÂs activities include Retail banking,Corporate banking,and SME banking,as well as Trade finance,treasury services,and Investment banking-related products.
In 2024, Dubai Islamic Bank reported revenues of approximately USD 6.3 billion and total assets of approximately USD 94 billion.
Dubai Islamic Bank was the principal complainant in a fraud case involving British property developer Ryan Cornelius.
In 2010, Cornelius was convicted in Dubai of defrauding the bank and sentenced to ten yearsâ imprisonment.
In 2018, international media reported that his detention could be extended unless liabilities exceeding USD 400 million were settled.