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Dubai Islamic Bank to open 25 new branches in Pakistan

ascvgfrISLAMABAD: Dubai Islamic Bank Pakistan Limited (DIBPL) will open 25 new branches in various cities of Pakistan by next year.

President and CEO DIBPL Junaid Ahmed told APP, that since starting operation in Pakistan in 2006, the bank has 72 branches and were planning to open 25 more branches within a period of one year.

He said that DIBPL has undertaken major initiatives to expand its branch network across the country.

Junaid Ahmed said that under its consumer banking division, the bank is offering state-of-the-art Sharia compliant products that effectively compete with those being offered in the market by conventional banks.

"It also has expertise in providing Retail, Private, Small and Medium Enterprises, Corporate, Investment Banking and Advisory services," he said.

Junaid Ahmed said that the Bank launched Pakistan's first Islamic Visa Debit Card and introduced financial products covering Home Financing, Auto Financing, and Depository products.

He said that DIBPL has also introduced Priority Banking and Internet Banking, both of which are being recognized as benchmark products in their respective categories.

"Besides regular banking services, the Bank is committed to bringing foreign investment to the country.

DIBPL's corporate wing has actively pursued foreign investors and convinced world renowned giants from the GCC to be part of Pakistan's economy," he said.

Copyright APP (Associated Press of Pakistan), 2011


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