Dubai Islamic Bank to offer DIB Trade Club membership and access to the Trade Club Alliance to Corporate and SME customers

Dubai Islamic Bank to offer DIB Trade Club membership and access to the Trade Club Alliance to Corporate and SME customers

New service will drive increased international trade opportunities by providing access to an international network of banks covering well over half of the world’s global trade corridors

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE and the leading powerhouse in the world of Islamic Finance, today announced plans to offer customers membership of the Trade Club Alliance (TCA) – an innovative international digital business networking platform, offering Corporate and SME clients a wealth of relevant trade expertise and the opportunity to connect with trusted partners across the globe.

The Trade Club Alliance, led by Santander Group and currently extended to a global network of 15 banks, aims to improve connectivity between importers and exporters, making international trade simpler.

Membership of the DIB Trade Club offers customers access to two distinct online platforms – Trade Club and Trade Portal. The Trade Club is a front-end interface, which provides cross-border B2B matchmaking enabling DIB customers and the clients of the Trade Club Alliance partner banks to identify mutually beneficial business opportunities. In addition, it establishes an online marketplace for pre-vetted Requests for Offers (RFOs) posted by the clients of the partner banks.

The Trade Portal, on the other hand, complements the former, with an online knowledge base providing customers with trade and other relevant data from several hundred trusted sources. The portal, which aims to improve trade efficiency, has 5 modules or tools including country profile, market information, counterpart information, trade compliance and custom calculators. DIB can extend the portals to its existing or potential customers whilst building strategic FI relationships with network of global banks.

DIB believes this move will open exciting new avenues for existing and potential customers to generate fresh leads and opportunities and facilitate the expansion of business into other markets.

Commenting on the announcement, Dr. Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank, said; “DIB has a proud legacy of helping the region’s businesses achieve success and our commitment to supporting UAE economic growth remains an integral element of our strategy. Against this background, we have joined TCA as an exclusive partner in UAE to offer improved trade solutions for our Corporate and SME clients. This global program will not only allow companies to identify trusted partners in other geographies for business but will also enable them to seek advice on financial services from any of the current 15 alliance banking community, set to expand even further across additional markets. The introduction of this new platform in the market is expected to enhance the growth opportunities for UAE based international trade-oriented companies.

“Access to a one-stop shop of trade resources enables customers to discover global opportunities, receive tailored matches for their products or services and exchange insight about international trade with over 21,000+ fellow members.”

Membership compliments DIB’s market-leading digitization strategy, offering unique services and functionality to DIB’s trade clientele via end-to-end global trade support from partner banks. It is anticipated that joining TCA will

increase DIB’s trade volumes, deepen relationships with existing customers and attract new ones.

Start exploring now, visit www.dibtrade.ae

About Dubai Islamic Bank:

Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full service Islamic bank and the second largest Islamic bank in the world. With Group assets in excess of USD 80bln and market capitalization of nearly USD 10bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 3 million customers across the Group, DIB offers an increasing range of innovative Shariah compliant products and services to retail, corporate and institutional clients.

In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shari’ah-compliant financial services across a number of markets worldwide. The bank has established DIB Pakistan Limited, a wholly owned subsidiary which is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB’s first foray in the Far East, the bank owns a nearly 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry.

The Bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world’s Islamic Banks, marking it a clear indication of the bank’s leadership position in the Islamic finance sector.

For more information, please visit us at www.dib.ae

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