dubai islamic bank (e-com)
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Dubai Islamic Bank
Vision statement
To be the leading Islamic Bank providing Shari’a compliant financial services, by creating value for all
stakeholders.
Mission statement
To provide diversified Shari’a compliant financial services and products through the best of innovation,
talent and operational excellence while ensuring consistent growth and profitability.
Value
Trust
Communicatio
Innovation
Caring
One Team, One Goal
History
Dubai Islamic Bank being the world's first Islamic bank combines the best of traditional Islamic values
with the technology and innovation that characterise the best of modern banking. Since its formation in
1975, Dubai Islamic Bank has established itself as the undisputed leader in its field. It also has set
standards for others to follow the trend towards Islamic banking which gathers momentum in the Arab
world and internationally.
Islamic banking Dubai is one of the world's fastest-growing economic sectors, comprising close on 200
institutions responsible for assets estimated at more than $200 billion. Different Islamic banking sectors
of Dubai for helping customers in easy banking includes
● Johara Banking
● Business Banking
● Corporate Banking
● Investment Banking
● Real Estate finance
● Sharia Board
● Electronic Banking Service (Online Banking,Mobile Banking, Calculator,Phone Banking)
● Retail Banking
● Private Banking
Dubai Islamic Bank Pakistan Limited
Dubai Islamic Bank Pakistan Limited (DIBPL), commenced operations in 2006. Since then, DIBPL has
undertaken major initiatives to expand its branch network across the country. Under its consumer
banking division, the bank is offering state-of-the-art Sharia compliant products that effectively compete
with those being offered in the market by conventional banks. It also has expertise in providing Retail,
Private, Small and Medium Enterprises, Corporate, Investment Banking and Advisory services.
The Bank launched Pakistan's first Islamic Visa Debit Card and introduced financial products covering
Home Financing, Auto Financing, and Depository products.
DIBPL has also introduced Priority Banking and Internet Banking, both of which are being recognized
as benchmark products in their respective categories. Besides regular banking services, the Bank is
committed to bringing foreign investment to the country. DIBPL's corporate wing has actively pursued
foreign investors and convinced world renowned giants from the GCC to be part of Pakistan's
economy.DIBPL is 100% owned by Dubai Islamic Bank PJSC (Public Joint Stock Company) and its
nominated shareholders. The parent company is a listed company in Dubai.
Management Team
Junaid Ahmed (CEO – DIB Pakistan)
Wamiq Rizvi (Chief Operating Officer)
Shaikh Mashhood-Ur-Rehman (Head of Information Technology)
Iqbal Ahmed Zuberi (Head of Country Operations)
Irfan Johar (Head of Internal Audit)
Syed Iftikhar Ul Haq (Head of Consumer Assets)
Khurram Munawar (Head of Credit Risk Management)
Zahid Mansoor (Head of Treasury)
Naveed Malik (Head of Distribution)
Ali Jaffer (Company Secretary & Head of Legal Affairs)
Muhammad Salim Yousaf (Chief Financial Officer)
Naveed Lodhi (Head of Compliance)
Shariah Board
Role of Shariah Board
DIBPL strives to bring to its customers, ‘World Class Banking, the Islamic Way’. To ensure that every
transaction complies with Islamic Law, we have in place a ‘Fatwa & Sharia Supervision Board’, comprising
of scholars of the highest repute, with vast experience in the field of Islamic Jurisprudence, economics and
banking.
The ‘Fatwa & Sharia Supervision Board’ ranks above the Board of Directors and is empowered to issue
‘Fatwas’ on any matter proposed before it by the different business units of the Bank. This framework has
made DIBPL an organization that practices Islamic finance in true letter and spirit.
Important Duties of the Sharia Board
It is the source of expert knowledge on Islamic Principles (Including Fatwas).
It oversees the development of all products to ensure no Shariah repugnant feature arises.
It analyses unprecedented situations not covered by fatwa, in the Bank’s transactions to ensure
Sharia compliance.
It analyses contracts and agreements concerning the Bank’s transactions to ensure Sharia
compliance.
It ensures the immediate correction of breaches (if any) in compliance to Shariah.
It supervises Sharia training programmes for the Bank’s staff.
It prepares an annual report on the Bank’s balance sheet with respect to its Sharia compliance.
Our Shariah Board members are widely acclaimed as leaders in the field of Islamic Finance. A
humble introduction to each member is given here.
Dr. Hussain Hamid Hassan (Chairman and Shariah Advisor).
Dr. Muhammad Qaseem.
Dr. Ajil Jasimal Nashim.
Products and Services
Products
All the products offered by DIBPL are purely Islamic in nature. Dubai Islamic Bank offers following
products.
Current Account
Saving Account
Fixed Deposit
VISA Debit Card
Current Account
Dubai Islamic Current Account is a non-remunerative checking account designed for account holders
who need to transact frequently. It specifically appeals to businessmen and salaried individuals who
need to make frequent payments and deposits in their account. The Dubai Islamic Current Account is an
ideal low cost option for such customers. Based on the Wadi’a contract, the Dubai Islamic Current
Account offers users safe keeping of their cash deposits against DIBPL’s guarantee to provide the
depositor his funds on demand. However, the depositor permits DIBPL to use or invest his money in its
Sharia compliant investments and is neither entitled to investment profit nor does the account holder
bear any risk of loss.
The Current Account is offered in currencies like Pak Rupees, US Dollar, UK Pound, EURO, Japanese
Yen and UAE Dirham’s (only for cash deposits, cash withdrawals are not allowed).
All entities including individuals, corporations, firms, societies, clubs, government organizations,
statutory bodies, public and private institutions can open a Dubai Islamic Current Account with as low
as PKR 1000.
Saving Account
Dubai Islamic Savings Account is a great investment option for depositors who wish to earn Halal
returns on their savings. That’s not all, it allows you the flexibility to withdrawn your funds when ever
required. By investing in the Dubai Islamic Savings Account, the depositor (fund provider or Rabbul-
Maal) authorizes DIBPL (fund manager or Mudarib) to invest his/her funds on the basis of unrestricted
Mudaraba contract according to the principles of Sharia. DIBPL invests these funds in its Common
Mudaraba Pool with other deposits and the shareholders’ equity. The profit on the Common Mudaraba
Pool is distributed amongst the shareholders’ and depositors on the basis of agreed upon weightages
which take into consideration the tenor, amount of deposit and profit payment frequency of the account.
The Dubai Islamic Savings Account is offered in Pak Rupees and US Dollar. All entities including
individuals, corporations, firms, societies, clubs, government organizations, statutory bodies, public and
private institutions can open a Dubai Islamic Savings Account with a balance as low as PKR 1000. For
US Dollar Savings Account, daily balance throughout the month must remain above US $500 to be
eligible for profit payment.
Fixed Deposit
Dubai Islamic Fixed Deposit Account offers the ideal mix of long and short term benefits to depositors
seeking attractive and Halal returns on their savings. With a history of high profit payouts Dubai Islamic
Fixed Deposit Account is an excellent investment vehicle for depositor. By investing in the Dubai
Islamic Fixed Deposit Account, the depositor (fund provider or Rabbul-Maal) authorizes DIBPL (fund
manager or Mudarib) to invest his/her funds on the basis of unrestricted Mudaraba contract according to
the principles of Sharia. DIBPL invests these funds in its Common Mudaraba Pool with other deposits
and the shareholders’ equity. The profit on the Common Mudaraba Pool is distributed amongst the
shareholders’ and depositors on the basis of agreed upon weightages which take into consideration the
tenor, amount of deposit and profit payment frequency of the account.
VISA Debit Card
VISA Debit Card of Dubai Islamic Bank provides the following benefits to the customers
Global Acceptance
Convenince
Unlimited number of Supplementary Cards
ATM Cash Withdrawal
Funds Transfer across Accounts
Balance Inquiry
Global Customer Assistance Services
Zero Loss Liability
Free renewal
Services
DIBPL offers following services to its customers:
Internet Banking
SMS Banking
Locker
Phone Banking
Problem Resolution Unit
Corporate Banking
Consumer Financing
Al-Islamic Saving & Takaful Plan
Internet Banking
DIBPL Branch Banking customers can easily make their monthly rental payments by using Dubai
Islamic Internet Banking facility to internally transfer the rental amount from their personal account to
the dedicated account.
SMS Banking
Now, Dubai Islamic Bank Pakistan Limited brings banking services at your fingertips. Free yourself
from the hassle of visiting the branch and enjoy the convenience of Dubai Islamic SMS Banking.
SMS Banking Features
You can select your desired services from a variety of options available
You can block your account, in case of stolen or lost cell phone
24/7 customer service helpline
Automated help messages on your cell phone
Locker
DIBPL is pleased to offer locker services to its customers. Our customers can lease a locker for the
safekeeping of their valuables for complete peace of mind. Customers are required to pay a security
deposit at the time of locker issuance. This security deposit is refundable once the customer discontinues
the service. In addition to the security deposit, an annual rental is payable in advance depending upon
the size of the locker.
Phone Banking
Dubai Islamic Bank Pakistan Ltd. offers a state-of-the art 24/7 Phone Banking service which provides
quality services and financial solutions to esteemed customers. Our highly trained Phone Banking
Officers are available round the clock to assist and provide you the services.
Problem Resolution Unit
DIBPL is fully committed to providing a World Class experience to its Customers. However, it needs
support to further improve its services. If you come across any problem or query, have a complaint or a
suggestion, you can contact Dubai Islamic Phone Banking
Corporate Banking
The world of finance belongs to those who shape it. DIB has taken a leading role in shaping the dramatic
transformation that UAE has experienced in the last two decades. Now, with the same vigor, the Bank
comes to assist businesses in Pakistan.
DIBPL provides a wide range of services specifically designed to assist Pakistani businesses. You can
benefit from our
Cash Management Services
Trade Related Services
Investment Banking Services
Cash Management
DIBPL Cash Management offers comprehensive end-to-end Sharia compliant solutions to meet your
cash flow requirements. With our help, you can reduce turnaround times for your accounts receivables,
better manage your payables, and benefit from our value-adding MIS reports. GL reconciliation would
have never been easier for you.
Collections
DIBPL is an expert at facilitating the collection of sales proceeds and converting your Receivables into
Funds Available. You are provided the facility of maintaining a single concentration account.Collections
from all over Pakistan (cash/ cheque/ pay order/ demand draft) will be credited to this main account via
DIBPL's real time online branch network.
Bulk & Data Processing
DIBPL has formed project-to-project alliance with National Institutional Facilitation Technologies on
processing and collection. DIBPL will perform the role of the financial institution while National
Institutional Facilitation Technologies will provide the expertise in the area of bulk processing. National
Institutional Facilitation Technologies has 10 years of experience in this area and has previously done
such projects for Sui Southern Gas Corporation and Lahore Electric Supply Company successfully.
Payment Product
The product facilitates clients in managing their outflow of funds. The outflows can be through Pay
Order/Demand Draft or by way of electronic cheques issued at the client’s office.
Depository Services / Liquidity / Funds Management
In DIBPL's suite of Shari'a approved Investment Depository Products, your organization will certainly
find just the right combination of attractive returns and enhanced liquidity that it requires. Enhance your
funds management like never before.
Foreign Exchange Remittances
The Cash Management Group at DIBPL is adept at handling outward/inward remittances through State
Bank of Pakistan. Be it money transfers within Pakistan or outside, DIBPL will have a product to meet
your needs safely and efficiently. The Bank's extensive network of correspondent banks in all major
countries of the world is all that your business will require.
Cash-In-Transit Services
DIBPL can arrange for its clients a secure pick up of cash from the customer’s door step for deposit at
DIBPL's nearest branch.
Trade Related
DIBPL offers a range of solutions to help customers in their trade transactions. The Banks rapidly
expanding local network befittingly complements the extensive experience it has acquired in managing
correspondent relationships across the globe. DIBPL’s Sales and Service Outlets have the infrastructure
in place to ensure that customers’ documents are processed accurately and in the fastest possible time.
DIBPL trade professionals look forward to sharing with you their trade related knowledge.
Import Murabaha
Import Murabaha is a product, used to finance a commercial transaction which consists of purchase by
the Bank (generally through an undisclosed agent) the goods from the foreign supplier and selling them
to the customer after getting the title to and possession of the goods. Murabaha financing is extended to
all types of trade transactions i.e., under Documentary Credits (LCs), Documentary Collections and
Open Account.
Wakala Istithmar Facility (Exports)
A unique structure tailor-made for the exporters of the country, the Wakala Istithmar facility which has
been developed under the direct guidance of Sharia to meet the working capital requirements of
exporters and local manufacturers speaks volumes about our Shari’a expertise and edge in bringing new
Shari’a compliant products to the market for promotion of Islamic banking and ridding those who desire
Halal income from interest-based financing.
Wakala Cum Istisna’a Facility (Local Supplies)
Istisna’a is a contract for manufacturing or construction whereby the manufacturer sells to the buyer,
goods of specific description, at a fixed price, which the manufacturer shall make from raw material of
its own and deliver to the buyer at a future date. Istisna cum Wakala is a two-leg short-term trade
finance solution which enables a manufacturer to fulfill his payment obligation under a documentary
credit presentation and allows time for the goods to be cleared, manufactured and stocked. Once the
goods are delivered to the buyer, the customer then sells the goods, in its capacity as the agent of the
bank to creditworthy and trusted buyers and realizes the sale proceeds on behalf of the Bank. Such
finances are offered in conjunction with L/Cs to corporate customers under Wakala Istisna facility.
Guarantee
A guarantee is issued by DIBPL (the guarantor) on behalf of its customer (the applicant) in favor of a
third party (the beneficiary), for fulfillment of specifically defined contractual and/or financial
obligations of the applicant. If the obligations are not fulfilled by the applicant, the guarantor will pay up
to a certain amount to the beneficiary on non-performance of the obligations by the applicant. Exchange
Regulations for Guarantees in Pakistan are governed under Chapter XIX of Foreign Exchange Manual
(FEM) of the State Bank of Pakistan. Internationally, (ISP-98) International Standby Practices 1998 of
International Chamber of Commerce (ICC) Publication No.590 also apply.
Investment Banking
With its team of seasoned professionals, DIBPL has become the Investment Bank of choice for local and
regional clients in a short span of time. DIBPL leverages the regional expertise and local knowledge to
create an efficient blend of solutions for our customers. DIBPL’s Investment Banking provide its clients
with a unique combination of expertise, broad range of investment banking/financial services and access
to top regional decision makers. DIBPL derive strength from our team that has unrivalled experience in
dealing with the largest M&A, Advisory and Fundraising transactions in the country
Consumer Financing
Home Finance
Auto Finance
Business Finance
Home Finance
Dubai Islamic Home Finance is the key to your dream home and we are eager to put this key in your
hands. Using the Musharaka cum Ijara model, the Bank enters into a partnership with you and helps you
in fulfilling your dream of owning a home quickly, conveniently and in a fully Shariah compliant
manner. Whether you want to buy, renovate or simply wish to switch from your present home finance
with any other bank, DIBPL’s would be the best Shariah compliant alternative. Currently Dubai Islamic
Home Finance is offering three product variants
Home Purchase
Purchase of undivided Share (Home Renovation)
Purchase of undivided share of property from other bank (Balance Transfer)
Auto Finance
Dubai Islamic Auto Finance offers a world class auto finance facility that enables you to get a car
quickly, conveniently and in a fully Sharia compliant manner. Using Musharaka cum Ijara model to
finance your car, steer yourself towards peace of mind and fulfillment of your desire
Business Finance
Dubai Islamic Business Finance is a shariah compliant term finance facility which provides a complete
solution for fulfilling the financial needs of your business. Using the Shirkatul Melk cum Ijara model,
Dubai Islamic Bank Pakistan Ltd. (DIBPL) enters into a shirkatul melk relationship with you by
purchasing an undivided share of your residential property and subsequently leases to you this undivided
share in the property against monthly rentals thus helping you in fulfilling your business needs
conveniently and in a fully Shariah compliant manner. This product is available for new as well as those
who already have a business finance facility from another bank and wish to bank the Islamic Way.
Features
There are so many reasons that make Dubai Islamic Business Finance the right choice. It is 100%
Shariah Compliant an customer can select from Financing amount of Rs. 500,000 and financing up to
Rs. 20 million. DIBPL offers Fastest processing time and affordable monthly payment plan. Customer
can finance up to 70% of your property value.
Al-Islami Saving & Takaful Plan
Dubai Islamic Bank Pakistan Limited (DIBPL) is proud to introduce Al-Islami Saving & Takaful Plan in
collaboration with Pak Qatar Family Takaful Ltd. (PQFTL) Al-Islami Saving Takaful Plan is a Shariah
compliant alternative to conventional insurance, offering a unique combination of saving , investment
and protection. The Al-Islami Saving & Takaful Plan offers you peace of mind and takes care of the
future of your loved ones by offering a saving plan and providing Takaful coverage in event of death to
your beneficiaries. So rest assured, with Al-Islami Saving and Takaful Plan, your future plans are in safe
hands. As an individual you have many dreams:
A college education for your child from a prestigious university
A dream wedding for your beloved daughter
Your spiritual journey to perform Hajj
Any other financial objectives you may want to achieve
The Islamic concept of Takaful
The word Takaful is derived from Arabic verb Kafala, which means to guarantee, to help, to take careof
one’s needs. Takaful is a system based on the principle of Ta’awun (mutual assistance) and Tabarru
(voluntary contribution where risk is shared collectively against loss or damage to any one of them as
defined in the pact. Takaful is operated on the basis of shared responsibility, brotherhood, solidarity and
mutual cooperation.
Departments
DIBPL has following departments
Cash department
Clearance Department
Advances Department
Remittance Department
Deposits Department
Foreign Exchange Department
Compliance Department
Human Resource Management Department
Information Technology Department
Cash department
Cash department performs following functions
Receipt
Payment
Receipt
The money which either comes or goes out from the bank, its record should be kept. Cash department
performs this function. The deposits of all customers of the bank are controlled by means of ledger
accounts. Every customer has its own ledger account and has separate ledger cards.
Payment
It is a banker’s primary contract to repay money received for this customer’s account usually by
honoring his cheque.
Clearance Department
A clearing house is an association of commercial banks set up given below for the purpose of
interchange and settlement of credit claims. The function of clearing house is performed by the central
bank of the country by tradition or by law. In Pakistan, the clearing system is operated by the SBP. If
SBP has no office at a place, then NBP, as a representative of SBP act as a clearing house.
The easy, safe and most efficient way is to offset the reciprocal claims against the other and receive only
the net amount owned by them. This facility of net interbank payment is provided by the clearing house.
The representatives of the local commercial banks meet at a fix time on all the business days of the
week. This meeting is held in the office of bank that officially performs the duties of clearing house. The
representatives of commercial banks deliver the cheques payable at other local banks and receive the
cheques drawn on their banks. The cheques are then sorted according to the bank on which they are
drawn. A summary sheet is prepared which shows the names of banks, the total number of cheques
delivered and received by them.
Advances Department
DIBPL gives loans to the borrowers for different purposes. These loans are given for various sectors for
different periods. Small Finance, Cash Finance, Personal Loans, Demand Finance, Running Finance,
Corporate Finance, Export Import Financing, House Building Finance.
Remittance Department
Another important department in the bank is remittance. People send their money to other persons and
organizations through various ways i.e. bank draft, telegraphic transfer, mail transfer, coupons, Govt.
Draft and Western Union Money Transfer etc. It works both inward and outward.
DIBPL offers the following forms the remittance.
Demand Draft
Telegraphic Transfer
Pay Order
Mail Transfer
Safe custody of specimen signature book
Preparation of periodical statements
Any other work/duty assigned by manager
Deposits Department
Customers keep their savings in PLS saving accounts and businessmen save their money in bank current
accounts. DIBPL gives profit on saving and special saving accounts.
Foreign Exchange Department
This department mainly deals with the foreign business. The main functions of this department are:
L/C dealing
Foreign currency account dealing
Foreign Remittance dealing
Compliance Department
Role of branch compliance department is to reconcile the prescribed frequencies, investigate long
pending reconciliation item, and ensure correct treatment every half year and clearing system service
branch-in major cities. Internal control is the integration of activities, plans, attitudes, policies and
efforts of the people of the bank working together to provide reasonable assurance that the organization
will achieve its objectives and mission.
Human Resource Management Department
Human Resource Management Department works for the betterment of the employees. Enhances skills,
training management, service benefit, wages, medical facilities, staff loans are basic function of this
department.
Information Technology Department
Bank’s data collection and information system run by Regional Data Collection Center. This department
manages staff training programs regarding computer.
Company Analysis
DIBPL being a quality organization strives to provide quality to all its stakeholders, customers,
employees and environment. In Pakistan, it is operating in a very volatile economic and political
environment. The detail of its analysis is given in following sections.
SWOT Analysis
SWOT analysis is an effective technique to evaluate various aspects of an organization.
Strength
DIBPL has this privilege to be the first in the Islamic Banking sector which give DIBPL a
competitive edge over all other banks and being the pioneer of this industry. DIBPL is enjoying
major share of it.
The first international Islamic Bank in Pakistan with a network of over 80 branches.
The members of Shariah Supervisory Board of DIBPL are internationally renowned scholars,
serving on the boards of many Islamic Banks operating in different countries.
Being an Islamic Bank, DIBPL has a wide national network. As an emerging markets bank, it
has branches in all major cities of Pakistan with the facility of online banking, it is very easy for
its customers to transact all over the country.
DIBPL provides online banking service. Online banking service means that a customer can
withdraw and deposit his money at any branch in the country. Where this service is not present,
cheque has to be presented only in that branch on which they are drawn. But with this facility, a
person has access to its funds at any branch of the bank
There are many value added features in the products offered by the bank. ATM cards are
provided with every account. Other features are present in various products. The priority
customers enjoy a much pampered status at the bank.
The employees at the bank provide impeccable customer service to their customers.
Customers are treated with great respect and honored to the utmost degree.
The working environment of bank is very friendly and cooperative. There is no bossiness in the
higher management. The upper management consults its staff in making decisions and provides
them independence in their job areas.
Weakness
Till the last year, DIBPL had a totally different perspective. The management was of the
view that the customer should come to them and they don’t need to go to customer. But in
this era of mass marketing and advertising, it is not possible to stay in competition without
these tools. The bank has now changed its perception arid has started an effective marketing
and advertising strategy. But the previous gaps are still there and there is lack of awareness in
the people about the bank and its products. The bank needs to improve in marketing and
advertising areas.
It was observed in the bank that the degree of satisfaction of employees was quite low. First
of all, the pays are lower those offered in other banks. Secondly, the employees are given
targets that are too difficult to achieve. For example, the targets given to the sales personnel
and service department are higher than any other bank in the country, be it a local bank or a
foreign bank. This makes a job too stressful and tensed. It is good to keep people under a
continuous move, but to overstress them can be harmful to them as well as to the
organization.
Due to the dissatisfaction of staff and recession, there is high turnover among them. People
who find other alternatives do not stay with the bank. Therefore, the bank incurs loss in their
training and development.
Opportunities
Home financing sector can be targeted to maximize profits.
Growing demand of Islamic products and services.
Venturing into Islamic groups outside the countries as opportunity to expand business in UAE
and Gulf states.
Coming up with the products for the SME to target the medium level customers.
Doing business with the companies having Islamic mindset i.e. Islamic Financial Institutions.
Increase branch network within the country.
The innovative service of Islamic Insurance called Takaful.
Threats
Right now there are a few banks that are providing Islamic banking services in addition
to DIBPL. These banks include Bank Islami, Al-Barkah Bank, Meezan Bank and some
branches of Bank Alfalah which are dedicated for Islamic Banking services. That’s why
there is no intense threat for the DIBPL in the near future but it is not difficult to say that
more banks may enter in this field as the awareness of Islamic banking is increasing
among the public. Therefore the DIBPL should not be contented to its present market
share but should strive for providing better and better and modern services.
Due to the increase in the conventional commercial banks, there is an increase in
competition. Also there is a lot of aggressive marketing by the competitor banks. This is
also threat for DIBPL.
Reviewing this SWOT analysis from time to time would help evaluate bank’s position. It would help the
management in comparing their strengths of the past with those of the present and to what extent the
management has been able to overcome the weaknesses.
Challenges
Dubai Islamic bank is facing a strong competition by its major Islamic bank competitors; Meezan Bank
and Burj bank. Business of these banks is also growing with very high pace. So in order to achieve the
sustainable growth in a market, DIB has to remain vigilant. DIB should enhance its Branch Network, in
order to capture the market of different areas. Another challenge aced by DIB is low deposits. While
offering a wide range of services provides opportunities, there is also the threat that customers may
prefer to go to suppliers who present a more specialised approach. In case of Islamic banking SBP does
not declared any policies that are enforceable by l aw. All the governmental policies is especially for
conventional banks not for the Islamic banks.
Marketing Analysis
Dubai Islamic Bank Pakistan Limited is growing rapidly in Pakistan. This shows the success of its
various strategies. Various factors of marketing for DIBPL are
Target Market
Marketing Mix
Positioning
Target Market
The DIBPL is mainly focusing on corporate sector. Small and medium sized companies are its main
customers. The reason behind focusing on corporate sector is that a single company can deposit a large
sum of money that is difficult to achieve by focusing on individual customers. It does not mean that
DIBPL is lacking the other side of the picture. It has also got individual customers. Corporate sector
constitute 80% of all the deposits of the bank. This is the reason DIBPL is focusing on corporate sector.
Due to this reason we see no advertisement of DIBPL in print and electronic media. Target marketing is
the basic step for rest of the strategies being developed.
Marketing Mix
Marketing Mix includes four P’s of marketing. These are:
Product
Price
Place
Promotion
Products and services provided by DIBPL have been discussed above. All the products and services
offered by DIBPL are purely Islamic. No other bank offers such services to the customers.
Price means that service charges of the bank. Charges are determined by the Schedule of Charges every
year. Bank provides quality services at very competitive charges. For example there are charges for the
renewal of ATM card, renewal of cheque books and cash withdrawals.
The main factor to discuss is the promotion. Promotion strategies consist of promotion mix. The
promotion mix includes:
Advertising
Publicity
Sales Promotion
Personal Selling
Advertising is paid and non personal communication of companies’ message to target customers. DIBPL
has no focus of advertising. This is also a weakness of DIBPL, because its customers are spending a lot
of funds on advertising. Competitors are taking full advantage of it. As DIBPL is offering products and
services to individual customers, so they need to communicate their products and services with people
through print and electronic media.
DIBPL has very effective personal selling teams. Their Financial consultants and Relationship managers
convince corporate customers to an account in the bank. This is competitive advantage of DIBPL. This
is the reason due to which DIBPL stands good in the market. Even without advertising and other
communication methods DIBPL manages to gain a good market share.
Positioning
Positioning is the customers’ perception about the company’s products and services. DIBPL is
positioning itself as a prestigious and quality services provider in the country. DIBPL believes that
customer is the key to success of business. Customer Relationship department and Relationship
managers are responsible for giving customer a sense of prestige at the bank.
Organizational structure
Head
Of
Audit
Head
Of
Complianc
e
Head
Of
Operations
Head
Of
Treasury
Head
Of
Consumer
Head
Of
Corporat
e
Head
Of
Finance
Hea
d
Of
HR
Risk
Management
division
Head
Of
Information
technology
Analysis of organizational structure
The chart shown above shows the organizational structure of Dubai islamic Bank ltd. The Board of
directors under whom is theCEO(Chief Executive officer) which forms the second level of this
organizational chart. Under the CEO there are different departments which include head of audit,
companies, operations, treasury, consumer ,finance, HR,I T, risk management Department. All the
departments mentioned above are headed by their respective Group Chiefs who controls their own
department and reports to the CEO.
The internal auditor will give the detailed report to he head of deparments and wil give the executive
summary to the CEO and BOd’s in Dubao Islamic bank.and this structure shows that CEO is directly
answerable to board of directors.
Board Of Directors
CEO
Internal
audit
division
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