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08 December 2023

Mohammed at DIB's 40th anniversary event

By Wam

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, attended the celebrations of the 40th anniversary of the Dubai Islamic Bank as the world’s first Islamic bank.

The ceremony, held at the Dubai World Trade Centre, was attended by banking and financial figures as well as a number of government officials included Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of the Mohammed bin Rashid Al Maktoum Foundation, Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development and other senior officials.

After playing the National Anthem, Mohammed Ibrahim Al Shaibani, Director-General of the Office of the Ruler of Dubai and Chairman of the Dubai Islamic Bank, briefed the audience on the progress of the bank since its establishment in 1975 by Haj Saeed Lootah with the support of the late Sheikh Rashid bin Saeed Al Maktoum.

Al Shaibani said the bank has the right to celebrate its anniversary as it is a pioneering institution in the banking and Islamic fund fields locally, regionally and internationally, adding that it has become a role model as it could mix between the Islamic values of the society and technology and innovation. He added that the establishment of the bank came as an alternative to traditional banking services to comply with the principles of Islamic Sharia.

At the end of the ceremony, Sheikh Mohammed signed a model of a gold coin designed to celebrate the event. Sheikh Mohammed praised the role of the bank in the development of Islamic banking sector in the country and a number of regions across the world. He also congratulated the chairman and board of directors on the historic occasion.