Islamic Commercial Bank

Dubai Islamic Bank Overview

History, leadership, ownership, and key facts about Pakistan's oldest full-fledged Islamic bank, a wholly-owned subsidiary of Dubai Islamic Bank UAE.

Operations since 2006
Unlisted (100% DIB UAE-owned)
AA/A-1+ Rated (VIS)

Written & reviewed by Dildar Hussain — 10+ years in Pakistani banking, BS Banking & Finance (NUML University)

Dubai Islamic Bank — usually just "Dubai Islamic Bank" or "DIB" in search — refers in Pakistan to Dubai Islamic Bank Pakistan Limited (DIBPL), a full-fledged Islamic commercial bank and the local subsidiary of the global DIB Group headquartered in Dubai. Every fact below is traced to an official source, not marketing copy.

DIBPL is not a stand-alone local bank with a foreign name — it is the Pakistani arm of Dubai Islamic Bank PJSC, the UAE institution recognized as the world's first full-service Islamic bank, founded in 1975. That distinguishes it from Pakistani banks that merely run an "Islamic banking window" alongside conventional operations: every product DIBPL sells is structured under Shari'a contracts from the ground up.

Who owns it, who runs it, how big its network is, and what its credit rating says about its financial standing — covered below, all traced to DIBPL's own official disclosures and independent credit-rating reports, not aggregator guesswork.

Dubai Islamic Bank at a Glance

Incorporated: May 27, 2005
Operations Began: March 28, 2006
Headquarters: Clifton, Karachi
Branch Network: 310 branches
Cities Covered: 66+ cities
Parent Company: Dubai Islamic Bank PJSC
Credit Rating: AA/A-1+ (VIS)
Listing Status: Unlisted

Because it is regulated by the State Bank of Pakistan like every other scheduled bank, DIBPL's capital adequacy, Shari'a governance, and disclosures are subject to the same central-bank oversight described on SBP's own site.

Incorporation and operational dates confirmed from DIBPL's official "DIB Pakistan" page (dibpak.com) and from the Bank's audited financial statements for the year ended December 31, 2025 (Note 1.1). Branch count of 310 (up from 235 a year earlier) is as at December 31, 2025, per the same audited statements — city count is from DIB's official "DIB Global" page and may not be as current. Credit rating from VIS Credit Rating Company's June 2025 rating report on DIBPL.

Financial Position (Q1 FY2026, Unaudited)

The balance sheet kept building through the first quarter of FY2026, with total assets crossing Rs 471 billion on a bigger investment book and continued growth in Islamic financing. Deposits pulled back a touch from year end, with interbank borrowing filling the gap. The bottom line was thinner, though, with quarterly profit after tax of Rs 686.80 million running well behind last year's first quarter.

Total Assets: Rs 471.28 billion
Deposits: Rs 324.53 billion
Net Assets (Equity): Rs 48.29 billion
Profit After Tax (Q1 FY2026): Rs 686.80 million
Capital Adequacy Ratio: 19.29%
Staff Strength: 3,860

Source: DIBPL Condensed Interim Financial Information for the period ended March 31, 2026 (unaudited, authorised for issue by the Board on April 29, 2026). Profit After Tax is for the quarter only and is not comparable to a full-year figure; the FY2025 audited annual profit after tax was Rs 4.09 billion. Staff strength is the FY2025 audited figure, not restated in the interim filing. See our Corporate Info & Rating page for the fuller financial picture, including the FY2025 audited year-over-year comparison.

Ownership: Who Owns Dubai Islamic Bank Pakistan?

Dubai Islamic Bank Pakistan Limited is a wholly-owned subsidiary of Dubai Islamic Bank PJSC, United Arab Emirates — DIBPL's audited financial statements for the year ended December 31, 2025 confirm the Bank's shares are held 100% by DIB UAE and its nominee directors. DIB UAE was founded in 1975 by Saeed bin Ahmed Lootah and is widely recognized as the world's first full-service Islamic bank; it is a public joint stock company listed on the Dubai Financial Market under the ticker DFM: DIB.

Unlike its parent, DIBPL itself is registered in Pakistan as an unlisted public limited company — it does not trade on the Pakistan Stock Exchange, and there is no PSX ticker symbol for Dubai Islamic Bank Pakistan shares. Anyone searching for a "DIB Pakistan share price" is likely thinking of the parent company's DFM listing in Dubai, not a locally traded stock.

Shareholding percentage confirmed from DIBPL's audited financial statements for the year ended December 31, 2025 (Note 21.2.1). Unlisted status confirmed from VIS Credit Rating Company's Rating Report on DIBPL, dated June 30, 2025. Parent company listing confirmed from DIB UAE's official investor relations disclosures.

Leadership

Muhammad Ali Gulfaraz

President & Chief Executive Officer of Dubai Islamic Bank Pakistan Limited.

Mohamed Saeed Ahmed Abdulla Al Sharif

Chairman of the Board of Directors. A banking professional with over 34 years of experience across Islamic and central banking, including 11 years as CFO of Dubai Islamic Bank UAE.

Board of Directors

Per DIBPL's official Board page, current directors include Vice Chairman Obaid Khalifa Mohammad Rashed Al Shamsi, John Stephen Macedo Grota, Shabbir Ahmed Shaikh, Muhammad Raza Jessani, Faaria Rehman Salahuddin, Abbas Saifuddin Bhujwala, and Anwar Jalal Belgaumi, alongside Chairman Al Sharif and CEO Muhammad Ali Gulfaraz.

Leadership details confirmed from DIBPL's official Board of Directors and Management Team pages (dibpak.com), and from VIS Credit Rating Company's June 2025 rating report.

Global Group Profile

DIBPL sits inside a much larger group. Dubai Islamic Bank PJSC marked its Golden Jubilee in 2025 — fifty years since its 1975 founding — and today operates across seven countries spanning Asia, Africa, and Europe, including the UAE, Pakistan, Kenya, Indonesia, Turkey, Sudan, and Bosnia, serving over 11 million customers through a network of 500-plus branches group-wide. In Pakistan specifically, DIBPL is externally audited by KPMG Taseer Hadi & Co., and is a Minimum Capital Requirement (MCR) compliant scheduled bank supervised by the State Bank of Pakistan.

2026 Brand Identity Refresh

In June 2026, DIB Pakistan rolled out a new brand identity across its branch network, aligning visually with the global DIB Group's 2025 Golden Jubilee rebrand. The updated look combines the "DIB" wordmark with a "Globus" symbol — a stylised globe with Islamic geometric motifs — in green, gold, and burgundy. CEO Muhammad Ali Gulfaraz described it as reflecting the bank's long-term direction on growth, technology adoption, and financial inclusion. This is a visual and brand refresh, not a legal name change — the registered entity remains Dubai Islamic Bank Pakistan Limited (DIBPL).

Source: The News Pakistan, "DIB Pakistan unveils new brand identity as part of digital and strategic refresh," June 9, 2026.

Products & Business Lines

Personal Banking

Asaan Account, Johara women's account, Itmenaan, Senior Citizen, Muaawin (for persons with disabilities), Freelancer and Foreign Currency accounts, and Term Deposits.

Consumer Finance

Auto Finance, Home Finance, Personal Finance, Business Finance, Fleet Financing, and Consumer Durable Finance — all structured under Shari'a-compliant contracts.

Corporate & SME Banking

Corporate Finance, Investment Banking, Trade, Transaction Banking, and SBP refinance schemes for SMEs.

Product lines confirmed from DIBPL's official website navigation (dibpak.com).

Dubai Islamic Bank Overview FAQs

Who owns Dubai Islamic Bank Pakistan?

Dubai Islamic Bank Pakistan Limited (DIBPL) is a wholly-owned subsidiary of Dubai Islamic Bank PJSC, UAE, which holds 100% of the bank's shares (through the Holding Company and its nominee directors), per DIBPL's audited FY2025 financial statements. DIB UAE is itself listed on the Dubai Financial Market (DFM: DIB).

Who is the CEO of Dubai Islamic Bank Pakistan?

Muhammad Ali Gulfaraz serves as President and Chief Executive Officer of Dubai Islamic Bank Pakistan Limited.

When was Dubai Islamic Bank Pakistan founded?

DIBPL was incorporated in Pakistan on May 27, 2005, received its State Bank of Pakistan license on November 26, 2005, and commenced operations as a scheduled Islamic commercial bank on March 28, 2006.

Is Dubai Islamic Bank Pakistan listed on the stock exchange?

No. DIBPL is registered as an unlisted public limited company in Pakistan and does not trade on the Pakistan Stock Exchange. Its parent, DIB UAE, is separately listed on the Dubai Financial Market.

Official Sources & Last Verified

Facts on this page were checked directly against DIBPL's official website, dibpak.com. Last verified: August 22, 2026. Rates, charges, and terms can change — treat dibpak.com as the source of truth.

Good For

Researching DIB Pakistan's ownership, leadership, and credit rating before opening an account
Understanding that DIBPL is unlisted and distinct from its Dubai-listed parent
Confirming DIB UAE's 100% shareholding and Shari'a-first banking structure
Getting a fast, sourced answer instead of a marketing summary

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