About Dubai Islamic Bank in Pakistan

A high powered delegation which included Dubai Islamic Bank's Group Chief Executive Officer Dr. Adnan Chilwan, Board members and senior management held key meetings with the bank's local management to ascertain the current status and future plans. The GCEO hosted two town halls in Karachi and Lahore to a wider audience of more than 1200 staff where he commended the performance given by the bank in 2016, a year that witnessed a 2-fold increase in profitability. Whilst highlighting the successes of DIB at both the Group and country level, Dr. Chilwan also outlined a detailed 2017 growth strategy for the franchise in the country. This newly defined approach repositions the Bank's medium term plans alongside the transformational growth the
Group has achieved in the last few years and effectively aligns the local franchise with DIB Group's overall positioning.
Dr Chilwan commented that Pakistan is a strategic country for DIB Group and the franchise here is an integral part of our ever-expanding global operations. Over the last few years, our consolidated performance at the group level has been highly impressive despite the challenges in the region with regards to liquidity, lower oil prices and general economic slowdown. A thorough reconstitution of the balance sheet in 2016 which included a revamp of funding sources and deployment avenues has not just resulted in significantly enhanced profitability but has also positioned the franchise to take advantage of the positive macroeconomic environment in the country and grow exponentially."
DIB is clear that the reason for success and that of Islamic finance in general in the UAE, has been the fact that we are overall market players, not niche focused. This unwavering belief has been critical to the evolution of both Islamic finance as well as the bank in the country where one enjoys more than 6% share of the overall banking sector and nearly 40% of the Islamic pie. As long every customer, corporate or retail, as a potential client, is on the only one direction for every one - NORTH than one can reach to its goals.
Junaid Ahmed, CEO DIB Pakistan said: "DIB Group has a rich and dynamic history panning more than four decades. As a pioneer of modern Islamic banking, the bank is viewed as the key influencer in the progression and advancements in the field of Islamic finance. From establishment of operations just 11 years ago to a franchise that boasts more than 240 locations across 62 cities in Pakistan, is phenomenal growth indeed and something we are all extremely proud of. Today's gathering is a clear reflection of the Group's commitment to the local franchise in Pakistan as we endeavor to strengthen and grow our business in this market. 
However according to financial statements of the bank in Pakistan for the year ending 2016 the deposits have come down to Rs 129 billion as of Dec 2016 from Rs 136 billion as of Dec 2015.Prifit has enhanced but out of total financing of Rs 95 billion, individual loans have been extended up to Rs 45 billion with nothing to agriculture and less to real sector. Bank has also kept Rs 27 billion in sukuk to earn profit with no risk. This strategy is beyond one's mind. Why State Bank is not looking banks affairs with such angles and in line with macroeconomic objectives, we don't know.