Dubai Holding consolidate Dubai Islamic Investment Group and Dubai Bank under one group

HE Mohammed Al Gergawi, Chairman, Dubai Holding

Dubai Holding, market leader in real estate and investment, has consolidated its investments in Dubai Islamic Investment Group and Dubai Bank under Dubai Banking Group, to form a global Shari'ah-compliant investment company. This consolidation is in line with Vision 2015 that highlights the development of the financial services sector in Dubai as a catalyst for future growth and economic diversification of the emirate's resources.

HE Mohammed Al Gergawi, Chairman, Dubai Holding, said, "The UAE's financial services sector is the one of the fastest growing sectors in our economy. This is a tremendous opportunity for our Group and we are confident that this strategic step will enhance growth and value creation in the industry and solidify Dubai's position as a leading global financial centre".

Dubai Banking Group will be managed by Dubai Group, the leading diversified financial services company of Dubai Holding. Dubai Banking Group will continue to focus on investing in Shari'ah-compliant assets in the Islamic sector that is expected to continue to grow at a very high rate well into the future.