Dubai Islamic Bank Unveils ‘Nest’ – A Breakthrough in Green Living
Dubai – December 19, 2023: In a move that underscores its commitment to sustainability and responsible banking, Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, today announced the launch of ‘Nest’ – a sustainable home finance program designed to make eco-friendly living accessible to families across the UAE.
Building on the momentum of COP28 and DIB’s proactive role in climate advocacy, ‘Nest’ is a tangible embodiment of the Bank’s pledge to support the creation of sustainable communities. ‘Nest’ offers a suite of financial products tailored to empower customers to invest in green homes, as well as ancillary finance for solar panels and sustainable construction materials, fostering an environmentally conscious lifestyle.
Additional benefits of ‘Nest’ include discounts on home finance rates, discount on due diligence and documentation fees, fee reimbursement for property evaluation, and a one-year free property Takaful, aligning with DIB’s drive to promote, encourage and incentivize sustainable choices. Reflecting DIB’s digital prowess, the program assures customers of paperless pre-approvals and digital contracts, further streamlining the home finance process while reducing the carbon footprint.
Sanjay Malhotra, Chief Consumer Banking Officer at DIB, states: “With ‘Nest’, we are not just financing homes, but we are nurturing a future where sustainability is rooted in every aspect of living. This initiative resonates with our vision to integrate environmental stewardship into our product offerings, reinforcing the bank’s commitment to the UAE’s sustainability goals. It’s about offering our customers a chance to make a significant impact – one home at a time.”
‘Nest’ is a continuation of DIB’s innovative strides following the successful launch of ‘DIB alt’, the ultimate digital banking experience, and the Bank’s strategic involvement in COP28 as an Associate Pathway Partner. These initiatives collectively showcase DIB’s leadership in digital innovation, customer experience, and environmental responsibility.
“As we forge ahead, ‘Nest’ stands as a testament to our dedication to sustainable development supported by innovation and digitalization,” added Mr. Malhotra. “It is more than a finance option – It is a statement of our ethos and our promise to future generations.”
Prospective homeowners can explore ‘Nest’ and apply for sustainable home finance by visiting dib.ae/nest or through the DIB Mobile App available on the App Store and Google Play.
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About Dubai Islamic Bank:
Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint-stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full-service Islamic bank and the second-largest Islamic bank in the world. With Group assets over USD 80bln and a market capitalization of more than USD 10bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah-compliant products and services to retail, corporate and institutional clients.
In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across several markets worldwide. The bank has established DIB Pakistan Limited, a wholly-owned subsidiary that is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB’s first foray in the Far East, the bank owns over 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry. In 2021, DIB increased its foreign ownership limit to 40% reflecting the increasing confidence of global investors towards the bank.
The Bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world’s Islamic Banks, marking it a clear indication of the bank’s leadership position in the Islamic finance sector.
For more information, please visit us at www.dib.ae
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