Dubai Islamic Bank being the world's first Islamic bank combines the best of traditional Islamic values

with the technology and innovation that characterise the best of modern banking. Since its formation in 1975, Dubai Islamic Bank has established itself as the undisputed leader in its field. It also has set standards for others to follow the trend towards Islamic banking which gathers momentum in the Arab world and internationally. Islamic banking Dubai is one of the world's fastest-growing economic sectors, comprising close on 200 institutions responsible for assets estimated at more than $200 billion. Different Islamic banking sectors of Dubai for helping customers in easy banking includes :

Retail Banking Private Banking

Johara Banking Business Banking Corporate Banking Investment Banking Real Estate finance Sharia Board Electronic Banking Service- (Online Banking,Mobile Banking, Calculator,Phone Banking.)

Dubai Islamic Bank is a public joint stock company whose share is quoted on the Dubai Financial Market. The bank reported AED 1.56 billion in net profit for the year ended December 31, 2006 rising by 47% compared to AED1.06 billion for the year ended December 31, 2005. The profit for 2006, including depositors' profits, stood at AED 3.3 billion, an increase of 65% compared to AED 2 billion for the year ended December 31, 2005. Financing and investment operations also delivered strong growth, with total investment and financing assets including investments in Sukuks for the Nakheel Group raising US$3.52 billion which stood at AED 38.8 billion, an increase of 28% over last year. Customer deposits also showed an aggressive growth of 43% over last year reaching AED47.7 billion in 2006. The bank has been proactive in creating partnerships and alliances at local and international level. Few up coming projects and few on going projects:

DIB to open branch in Dubai Industrial city. DIB launches new branch on AL Ittihad road. DIB team highlights strength of Islamic Finance sector to London-based institutional investors. DIB concludes Emarati programme for 36 UAE nationals. DIB sets up campaign on Johara banking service DIB and AL HAMAD GROUP sign AED 735 million credit facility agreements.

As a leading bank in UAE, Dubai Islamic Bank is dedicated to the nation's economic development and prosperity and also providing products and services in the realm of corporate finance to stimulate trade and industry progress and expansion.

Dubai Islamic Bank has the unique distinction of being the worlds first fully-fledged Islamic bank, a pioneering institution that has combined the best of traditional Islamic values with the technology and innovation that characterise the best of modern banking.

Since its formation in 1975, Dubai Islamic Bank has established itself as the undisputed leader in its field, setting the standards for others to follow as the trend towards Islamic banking gathers momentum in the Arab world and internationally. Islamic banking is now one of the worlds fastest-growing economic sectors, comprising close on 200 institutions responsible for assets estimated at more than $200 billion. In this context, the role of Dubai Islamic Bank is even more impressive. Yet, the bank remains true to its roots as a customer-centred organisation where close personal service and understanding form the basis of all its relationships. Tradition and heritage join with a commitment to flexibility, innovation and modernity, so that customers of every nature are provided with comprehensive solutions to all their financial needs. * Retail Banking :- Customers are always the top priority at DIB. Thats why the Retail Banking division offers a range of solution-driven and cost-effective products and services that cater for the different needs of individual clients, ensuring that the personal touch is more than just a name. With 30 years experience in Islamic banking to draw on, Dubai Islamic Bank has combined the highest ethical standards of Shariaah with state-of-the-art technology to provide a range of products that rank with the best in the world.

* Private Banking :- Al Islami Private Banking facility offers premium advice and solutions for wealthy individuals and families, recognising their unique needs for customised products and services. Al Islami Private Banking with DIB provides clients with powerful resources for preserving and growing their wealth through dedicated expertise and close personal attention, thus expanding their ability to reach critical financial objectives.

* Johara Banking :- "Recognising womens needs for specialist banking services, Johara combines a comprehensive range of banking facilities with privileges such as shopping discounts and health and educational benefits. Johara offers a friendly and professional customer service to meet all banking and financial requirements. DIBs first dedicated Johara branch was opened by in Jumeirah, Dubai, in 2003, followed by Abu Dhabi in 2004 and Sharjah in 2005. Johara services are now available in 10 branches across the UAE.

* Business Banking :- DIB has a wealth of knowledge and experience of the specialist finance needs of the business world. From short-term loans to ease cash-flow management, to financing property, import and export shipping, mergers and acquisitions, and the myriad requirements of the dynamic business environment, DIB promises fast decisions, speedy implementation, and competitive rates

* Corporate Banking :- The UAE business environment, one of the most dynamic in the world, is under impressive changes, innovation, and excitement. DIB, being one of the largest banks in the Middle East with extensive financial and physical infrastructure in the region and beyond, has taken a leading role in shaping the dramatic transformation that Dubai and the UAE has experienced over the past 30 years. This role is being played with a conscious approach which is based on customer focus, solution through product innovation and embracing modern technology to integrate customers with banks operations and to ensure faster turnaround time.

* Investment Banking :- The Investment Banking Group in Dubai Islamic Bank is a trusted provider of integrated capital markets and advisory solution to clients worldwide working extensively relationship with corporations, financial institutions, governments and institutional investors in the Gulf Cooperative Council countries and beyond. * Real Estate :- As the UAEs leading provider of real estate finance, Dubai Islamic Bank plays a major role in supporting infrastructure and real estate developments, ranging from construction of road networks and bridges to commercial property, residential estates, and high-rise buildings. The bank has now consolidated its leadership by offering total banking and finance solutions that meet the emerging challenges in the real estate industry by establishing a new structure that includes Contracting Finance and Real Estate Finance.

* Sharia Board:- DIBs Fatwa & Shariaah Supervision Board comprises reputable scholars with extensive experience in law, economics, and banking systems and specialising in law and finance as prescribed by Islamic Shariaah. The Board is appointed by the banks General Assembly and ranks above the Board of Directors. Its task is to supervise the development and production of innovative Shariaah-compliant investment and financing products. The Board is fully competent to issue fatwas in any matter proposed to it by different business units of the bank, and the Shariaah auditors ensure that these are carried out in all banking transactions. The presence of such expert Shariaah supervision at DIB is clear evidence of how Islamic banking is practised in letter and spirit, providing shareholders and customers with complete assurance that all dealings are free from riba (interest)

Quotionarre

Q.1 - Are you aware that the Quran prohibits the receiving or paying of Interest (for example Interest gained from a savings account)?

Q.2 - Are you aware of Islamic Finance? Q.3 - Would you be willing to deposit your money or take Islamic finance from an Islamic bank rather than a conventional bank? Q.4 - What services would you look for when opting for an Islamic bank over a conventional Bank? (you can choose more than one) (a) Home finance. Yes / No (b) Personal finance e.g car finance. Yes / No (c) Savings and deposits in halaal way. Yes / No

News on Islamic banking development in the world other than Malaysia. The combined assets of Islamic banks jumped by nearly 66 per cent at the end of 2008 despite massive losses suffered by the global banking sector because of the economic crisis, according to a an Arab banking group. From around $350 billion (Dh1.2 trillion) at the end of 2007, the total assets of the world's largest full-fledged Islamic banks surged to around $580bn at the end of 2008, an increase of nearly 66 per cent, the Beirut-based Union of Arab Banks (UAB) said in its monthly magazine, the Arab Banker. Bank Melli Iran remained on the top of the list at the largest Islamic bank at the end of 2008, followed by Al Rajhi Group of Saudi Arabia. Sept 29, 2009 - The Korean government submitted a tax proposal to the National Assembly to exempt companies from paying tax on distributions from Ijara and Murabaha, the most common types of sukuk, to help companies sell the notes, the finance ministry said today. 23 Sept 2009 - London has become one of the biggest centres for Islamic finance in the world, with five Islamic banks, and many others in the high street offering Islamic financial products, or "windows" as they are known (BBC News) Switzerland became the latest Western country to join the booming Islamic finance system, offering a full range of Shari`ah-compliant banking products and services, reported Qatari daily The Peninsula on Friday, November 13. We are proud to be the first Swiss private bank to offer such a holistic range of opportunities in Islamic finance to the (Middle East) region and on a global scale, Fidelis M Goetz, Head of Banking Division at Bank Sarasin, told a press conference in the Museum of Islamic Art in Doha.

 CHINA, the new economic powerhouse and one of the worlds fastest growing economies, has set its sights on Islamic banking and finance. The US$3.43 trillion (RM11.11 trillion) economy plans to woo Islamic banking and finance institutions to the country by establishing an Islamic finance hub.Islamic finance, with global assets worth over US$1 trillion (RM3.24 trillion), is now among the fastest growing sectors in international finance.Shenyang, the largest city in northeast China, has started the ball rolling by seeking Malaysias expertise in Islamic banking and finance to help establish an Islamic finance centre in the region.If the plan materialises, Shenyang will become the first Islamic banking and financial hub in the country of 1.3 billion people.The plan to establish Islamic finance centre would complement Shenyang Finance Development Target 2010. Islamic banking has been on the rise in the Asia-Pacific region, accounting for 60% of the global Islamic banking market. However, despite its rise in the rest of the region, the penetration of Islamic banking in India has been low. This is especially surprising with India having approximately 154 million Muslims and being the second largest Muslim population of the world. As mentioned in the Celent report Rise of Islamic Banking in the Asia-Pacific Region, this is primarily due to a regulatory block which allows Islamic banking to operate only in the form of a Non-Banking Financial Corporation. An amendment in the Banking Regulation Act of India, 1949 is required to allow the Islamic banking system to operate in banks in India. According to the quarterly report of De Nederlandsche Bank (DNB) Islamic banking in the Netherlands is on the rise. More and more Dutch financial institutions have an interest in offering Islamic banking. In the Netherlands the potential demand for Islamic banking will rise in the coming years "as a result of a growth in population, the educational and income level of Dutch Muslims," according to DNB. The central bank says that the risk profile of banks deviates from that of traditional banks but the supervision framework is effective, according to the organization. 11 June 2009 - Australia could have its first Islamic bank within five years and become an Islamic banking hub if regulatory hurdles can be addressed, government and business leaders say. Assistant Treasurer Nick Sherry said yesterday the Federal Government was committed to making the regulatory framework governing banks flexible enough to accommodate Islamic banking products and services while still protecting consumers. France's recently-announced readiness to clear hurdles to Islamic finance reflects a desire to jump on the wagon of the globally-booming industry, analysts believe."It's a strong signal and the players are listening," analyst Emmanuel Volland of the ratings

agency Standard and Poor's told Agence France Presse (AFP) on Tuesday, July 22, 2009. France has recently announced plans to adjust its economic and legal frameworks to accommodate Islamic banking activities. Economy Minister Christine Lagarde has briefed Gulf investors on steps "to make (their) activities as welcome in Paris as they are in London and elsewhere." The government is expected to announce fiscal and legal adjustments to accommodate the Shari`ah-compliant industry before the end of July. The modifications will facilitate the issuance of Islamic bonds (Sukuk) and structured real estate transactions (MENAFN - Arab News) While the United Kingdom and London in particular may have the pole position in facilitating Islamic finance in Europe, Germany potentially could emerge as an even bigger market for Islamic finance on condition that it gets its act together in several areas especially on introducing enabling legislation and increasing government support. At the first major Islamic finance conference held in Germany and organized by IIR Deutschland in Frankfurt last week, the message was clear that despite the lack of government involvement in the sector, the number of Islamic finance transactions is increasing especially in the real estate and capital markets sectors. "The politicians for their own reasons simply appear not to be interested in facilitating Islamic finance as in the UK," explained Dr. Simon Grieser of the law firm Mayer Brown LLP in Frankfurt.