Dubai Islamic Bank (DIB) has won the best Islamic Bank Award at the Banker Middle East Awards 2007. This is the third consecutive year that DIB has won the award.

DIB was chosen among fierce competition from a list of the biggest global financial institutions at a gala ceremony organised by Banker Middle East Magazine that was held recently in Doha, Qatar. Abdullah Al Hamli, Senior Vice President, DIB, accepted the award on behalf of the bank management.

Saad Abdul Razak, CEO of DIB Group, said: “Winning the best Islamic Bank Award for the third year in a row is a triumph for the bank’s staff and management, and confirms the strength not only of the bank’s offering to customers but also its overall direction and strategy. DIB has been continuously awarded the highest international accolades, including “Best Islamic Bank in the Middle East” by Euromoney Magazine, in addition to a host of other prestigious regional and international awards."

He added: “Being a leader in Islamic banking is a great achievement, yet attaining this status amid the increasing competition in the sector is a far greater accomplishment. We view this award as, in part, a challenge for all of us at DIB to elevate our efforts towards implementing comprehensive strategic planning to provide even more innovative products and services, and to meet to the demands of a dynamic and fast-developing economic environment.”

He concluded: “The award ceremony was as a very special showcase for the quality of DIB’s range of Islamic products and services, and provided us a platform to present them to the rest of the banking sector.”

Local, regional and foreign financial institutions operating in the Middle East were eligible for nomination in the Banker Middle East Awards. The winners were selected by an expert panel of judges from rating agencies, consultancies, card schemes, solution providers and banks.