Dubai Islamic Bank's subsidiary in Pakistan has embarked on a huge expansion drive with plans to open 30 branches there next year, almost double its existing number.
The bank announced a pre-tax profit of 280 million Pakistani rupees (Dh12.1m) for the first nine months of this year, up 207 per cent over the same period last year, Dubai Islamic Bank Pakistan said yesterday.
It recently opened 10 branches in Pakistan to bring its network to a total of 35 across 15 major cities.
"We are one of the few banks whose performance has been on an upward trend since 2008," said MA Mannan, the bank's chief executive. "The bank expects to post a profit on a full-year basis and will open an additional 30 new branches in 2010."
The bank was also focusing on innovation by offering products such as branchless banking and SMS banking, he said.
The bank, which started operations in Pakistan in 2006, offers Sharia-compliant products and services to institutions, small and medium-sized businesses and individuals. It has an asset base of 32 billion rupees and deposits of more than 25bn rupees.
Dubai Islamic Bank (DIB) is the largest bank in the UAE, operating 61 branches in the country. It said it planned to add three branches before the end of the year. It also hopes to launch "express banking centres" to serve customers at hypermarkets and shopping malls.
DIB aims to have increased its customer base by 15 per cent to about 900,000 by the end of this year, while it hopes to have built its retail business by 20 per cent for the year.
In addition to operating a representative office in Turkey, DIB has also been given a preliminary banking licence by the central bank of Jordan to operate in the country as an Islamic financial institution.
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
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Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
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The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
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The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
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About Housecall
Date started: July 2020
Founders: Omar and Humaid Alzaabi
Based: Abu Dhabi
Sector: HealthTech
# of staff: 10
Funding to date: Self-funded
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
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Visit Abu Dhabi culinary team's top Emirati restaurants in Abu Dhabi
Yadoo’s House Restaurant & Cafe
For the karak and Yoodo's house platter with includes eggs, balaleet, khamir and chebab bread.
Golden Dallah
For the cappuccino, luqaimat and aseeda.
Al Mrzab Restaurant
For the shrimp murabian and Kuwaiti options including Kuwaiti machboos with kebab and spicy sauce.
Al Derwaza
For the fish hubul, regag bread, biryani and special seafood soup.
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Napoleon
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FA Cup semi-finals
Saturday: Manchester United v Tottenham Hotspur, 8.15pm (UAE)
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