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MarketScreener Homepage  >  Equities  >  DUBAI FINANCIAL MARKET  >  Dubai Islamic Bank PJSC    DIB   AED000201015

DUBAI ISLAMIC BANK PJSC

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Dubai Islamic Bank : UAE bank donates Dh5 million for Kerala flood victims

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08/27/2018 | 04:18pm EDT

Image Credit: Rohit Prakash/Gulf News Reader

Cleofe Maceda, Senior Web Reporter

Dubai: Donations continue to pour in for the residents of Kerala who have been affected by the devastating floods that have left hundreds dead and thousands more homeless.

The Dubai Islamic Bank confirmed on Monday that it has set aside Dh5 million to help with the relief efforts in southern India.

The funds are coursed through the Mohammed Bin Rashid Al Maktoum Humanitarian & Charity Establishment (MBRCH), which is tasked to undertake international humanitarian and charity work in disaster-hit areas.

An official stated that the money being allocated is “fully dedicated to the relief” operations in the flood-stricken areas in Kerala.

The floods in Kerala have so far generated generous contributions from the UAE, with donations from businesses in the Gulf state reaching Dh23 million as of August 19.

The Khalifa Bin Zayed Al Nahyan Foundation (KBZF) had earlier launched an emergency relief campaign to help the flood victims. Indian entrepreneurs, including retail tycoon Yusuf Ali M.A., owner of LuLu Hypermarkets, and Dr. B. R. Shetty, founder and chairman of NMC Healthcare, had each donated millions of dirhams.

DIB's financial aid is in response to the directives of His Highness Shaikh Khalifa bin Zayed Al Nahyan, president of the UAE, His Highness Shaikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, and His Highness Shaikh Mohammed bin Zayed Al Nahyan, crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces.

“The relief efforts of the establishment are in accordance with the directives of the wise leadership to provide urgent relief to our Indian brothers in the state of Kerala in order to alleviate their suffering, and the UAE's brotherly and humanitarian duty towards its brothers and friends from friendly countries in such difficult circumstances,” said Ibrahim Boumelha, counsellor of the ruler of Dubai for humanitarian and cultural affairs and vice chairman of the board of trustees of MBRCH.

“The cooperation between the [MBRCH] and Dubai Islamic Bank has been established for a long time in many charitable projects inside and outside the country. This generous contribution is fully dedicated to the relief of our Indian brothers in Kerala,” he added.

As of Sunday, the death toll from the devastating floods rose to 445, while a million residents were housed in temporary relief camps.

(c) Al Nisr Publishing LLC 2018. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (AED)
Sales 2019 9 072 M
EBIT 2019 6 381 M
Net income 2019 4 742 M
Debt 2019 -
Yield 2019 7,36%
P/E ratio 2019 7,53
P/E ratio 2020 7,06
Capi. / Sales 2019 3,80x
Capi. / Sales 2020 3,35x
Capitalization 34 464 M
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Average target price 6,25  AED
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Managers
NameTitle
Adnan Abdul Shakoor Chilwan Group Chief Executive Officer
Mohammad Ibrahim Abdul Rahman Al-Shaibani Chairman
John Macedo Chief Financial Officer
Abdullah Ali Obaid Al-Hamli Director & Managing Director
Ahmad Mohammad Saeed bin Humaidan Director