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Dubai Islamic Bank launches wealth management service

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Dubai Islamic Bank has launched Wajaha, a wealth management service for ultra high net worth individuals.

Wajaha is an invitation-only service that offers financial products to personal relationship managers within a private setting in exclusive Wajaha Centres in Abu Dhabi, Dubai and Sharjah.

Dubai Islamic Bank, established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE.

The bank currently operates 61 branches in the UAE. As part of its expansion plans announced in early 2009, DIB will increase its nationwide network to 64 branches by the end of this year.

DIB is also planning to launch Express Banking Centres, which will provide fast services to DIB customers at various locations such as shopping malls, hypermarkets and megastores.

By the end of 2009, DIB forecasts that the bank’s total customer base will increase by approximately 15 per cent, reaching some 900,000 customers, while its retail assets business will grow by approximately 20 per cent.

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