In April 2013, Dubai Islamic Bank Group (DIB) repaid the Dhs3.752 billion deposit which it had received from the Ministry of Finance in 2008, citing robust financial position and strong liquidity as the key drivers for the decision.
Moody’s has also issued a Baa to the bank’s long-term issuer ratings and a Baa3 to the long-term issuer ratings of Tamweel, which is a subsidiary of the bank (86.5 per cent owned by DIB).
DIB also completed a sharia-compliant Tier 1 sukuk in March with its shareholders approving raising as much as $1 billion.