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HomeEconomyDIB Bank turns 4 years, promises more investment in Kenya

DIB Bank turns 4 years, promises more investment in Kenya

DIB Bank turns 4 years, promises more investment in Kenya

DIB Bank Kenya has marked four years in Kenya with a promise to increase investment and support to customers.

A wholly owned subsidiary of the Islamic banking giant, Dubai Islamic Bank, DIB Bank Kenya began operations in the gateway to Africa in June 2017 as a full-fledged commercial bank offering financial services to all Kenyans under the umbrella of sharia-compliant products and services.

Group CEO of Dubai Islamic Bank PJSC and Chairman of DIBBK Dr. Adnan Chilwan, said the bank has a long-term commitment towards the growth of Kenya given the market attractiveness, which also is an important hub in Eastern Africa.

“The African corridor is extremely important for us at DIB Group from a geo-location perspective and DIBBK plays a vital role in our presence in this great continent,” said Group CEO Dr. Adnan Chilwan.

“The African corridor is extremely important for us at DIB Group from a geo-location perspective and DIBBK plays a vital role in our presence in this great continent.”

According to Dr. Adnan Chilwan, noted that the bank will not cater to a niche but to the general population including Kenyans in the United Arab Emirates (UAE) and their home country as well as for businessmen who travel to and fro between Kenya and UAE.

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Dubai Islamic Bank, the parent bank for the lender, enjoys several distinctions, from being the first Islamic bank in the world, to currently the largest Islamic bank in the UAE and second largest in the world.

DIB group continues to provide the capital injection and liquidity support to DIB bank Kenya’s operations.

Richard Ngatia, President of the Kenya National Chambers of Commerce (KNCCI) has termed credit, finance and accessing of markets as threats brought about by the coronavirus pandemic.

“One of the challenging things and especially during this pandemic of COVID-19 is credit, finance  and accessing of markets because you don’t have finance and therefore when you have a reputable bank like DIB then you are able to be accommodated with finance and be accommodated with products that you need for example letters of credit that you are able to interact with other countries,” said Ngatia.

“To prepare ourselves for the African continent free trade area, we need a solid financial institution like DIB to come and support us to be able to give us resources that we require so that we can also get into markets of the African continental area,” he added.

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