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Dubai Islamic Bank and Al Ramz Corporation announce strategic alliance

November 18, 2022
islamic finance

DUBAI, 17th November, 2022 (WAM) – Dubai Islamic Bank PJSC and Al Ramz Corporation PJSC, a leading UAE capital markets financial institution providing a wide spectrum of financial solutions, announced today a strategic partnership to leverage capital markets services and expand financial offerings to customers.

In light of this partnership, Dubai Islamic Bank will now provide brokerage and related services to its clients through Al Ramz Capital, a subsidiary of the Al Ramz Corporation, where the bank will also offer its banking services to their customers as part of this arrangement. The brokerage service was earlier provided through its subsidiary Dubai Islamic Financial Services (DIFS).

Subject to regulatory approvals, the new strategic partnership will see collaboration on a number of initiatives including brokerage as well as the advancement of capital market offerings. Dubai Islamic Bank and Al Ramz are looking forward to future disclosures of further collaboration between the parties.

wam

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