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Dubai Islamic Bank wins Best Islamic Bank in Middle East at Gulf Wealth Forum |
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2/13/2006 12:47:29 PM |
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Dubai Islamic Bank's (DIB) leading role in Islamic banking was recognized at the Gulf Wealth Forum which is taking place under the patronage of Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance and Industry.
DIB won the Best Islamic Bank in Middle East Award. Mr. Saeed Al Qatami, Senior Vice President, Head of Wealth Management, DIB, received the award yesterday at the inauguration ceremony of the forum.
Mr. Al Qatami said: 'The bank has consolidated its position in the retail area with innovative products and services to meet the growing demands of customers. The bank has a superb range of retail, corporate and investment banking products and is also playing a leading role on the advisory and investment banking field.'
As part of DIB's participation in the Forum, Mr. Naveed Ahmad, Head of Investment and Product Development Wealth Management, Dubai Islamic Bank, delivered a paper on 'Islamic Wealth Management'.
He said: 'Private Banking market is huge, with total assets under management of US$28.8 in 2003 expected to have grown to US$38.0 trillion by 2005. Private Banking revenues represent around US$100 billion per annum.'
'The GCC market is witness a boom wealth due to booming oil prices, Stock Prices, IPOs, Real Estate, Banking, etc leading the market surge. Banks are also looking to expand their services and wealth Management will be a primary focus for them,' he added.
He concluded: 'The future of Islamic Wealth Management is bright due to the growth in number of Islamic Banks and Islamic Banking windows, in addition to the growing number of retail investment products and innovative ideas such as Sukuks, real estate funds, equity funds, among others.'
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