Tuesday 17, February 2015 by Robin Amlôt

Coming to Africa

Dubai Islamic Bank (DIB) received “in principle approval” from the Kenyan regulator in January 2015, Chief Executive Officer Adnan Chilwan said at a press event in Dubai. The bank still needs to get its final license and expects to be operational in Kenya by year-end. The new bank will operate under the name DIB Kenya, Chilwan said. DIB will hold 70 per cent of the bank, with 30 per cent owned by local partners.