Mr. Khalid A. Kamda, Chairman of the Board of Directors DIB Pakistan chaired the Board Meeting of DIB Pakistan Limited to review the bank’s performance and formulate framework for future operations and expansion in Pakistan. The meeting was attended by Fahad Bin Fahad, Vice Chairman DIB Pakistan; Junaid Ahmed Chief International Head DIB; Saad Zaman, Deputy CEO DIB Capital; M. A. Mannan, CEO DIB Pakistan and other directors of the board.
Mr. Khaled Al Kamda, Chairman, Board of Directors, Dubai Islamic Bank said "One of the key strengths of our consumer banking business has been our mortgage and auto product performance - DIBPL has been the number 1 issuer of consumer products. Our prudent and innovative credit and risk management policies have led to a quality asset portfolio and have resulted in sustained business growth despite turbulent economic conditions. 8 new branches were opened and customer base has grown to over 40,000. The corporate and investment banking business exceeded its targets and this performance has been recognized in the form of prestigious awards like "Sovereign Deal of the Year" and "Pakistan deal of the Year" by Islamic Finance News for the consortium-led deal of Pakistan Domestic Sukuk Company."
Addressing the occasion, CEO DIB Pakistan, M. A. Mannan said: “DIBPL is running profitable operations in Pakistan since the last quarter of 2008, and this positive trend is expected to continue for the year 2009. DIBPL achieved 58% growth in deposits and 59% in financing during 2008. We closed the year at an asset base of over Rs. 30 billion, deposits of over Rs. 25 billion and a network of 25 strategically placed branches.  We are confident that DIBPL will achieve greater milestones during the coming year.”