DIB shareholders approve 20% dividend DUBAI, 4 days ago Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, at its Annual General Meeting (AGM), approved a dividend of 20% aggregating to an amount of AED1.44 billion ($390 million).
DIB also approved the appointment of members of the Internal Sharia Supervision Committee and external auditors, approve the recommendation to amend and restate the Articles of Association of the bank, as well as a move to allow the Board to issue Sukuks or similar instruments in amounts not exceeding $7.5 billion.
Commenting on the AGM, Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank: “DIB has proven its resilience and agility in its response to what has been one the most challenging and unpredictable years for the UAE’s business community and the world as a whole. As a response, the bank has taken steps to mitigate the economic impact of the Covid-19 pandemic and support the wider economy’s road to recovery. DIB has provided relief measures totaling AED9 billion to more than 54,000 customers. We are honored by the continued trust shown by investors, stakeholders and customers alike and look forward to supporting the UAE’s leadership as we continue to navigate the pandemic and work towards a fully recovery.”