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.