Dubai Islamic Bank offers new financing solutions to future Tesla …

This collaboration reaffirms DIB’s commitment to promote green financing solutions and to simplify the transition to electric vehicles in the UAE
Dubai – Dubai Islamic Bank PJSC (“DIB”), the largest Islamic bank in the UAE and the second-largest Islamic bank in the world, is pleased to announce the launch of Islamic auto financing with a fully digital application process for Tesla customers in the UAE. This collaboration reaffirms DIB’s commitment to promote green financing solutions and to simplify the transition to electric vehicles in the UAE, as an auto finance market leader and in line with its corporate sustainable strategy, while also offering the best digital process and compelling rates to Tesla buyers.
DIB's fully digital financing process will make it easier for Tesla customers to apply for auto financing and improve their buying experience. Directly integrated in to Tesla’s online ordering process, this will be a convenient and user-friendly option for Tesla buyers who are looking for a financing solution that aligns with their values.
Commenting on the partnership, Sanjay Malhotra, Chief Consumer Banking Officer at Dubai Islamic Bank, said: “We are honored to join hands with Tesla to offer unique Islamic financing options to potential customers. Being a leader in the UAE’s auto finance market, we aim to make it simpler for future Tesla buyers to access affordable financing options that offers a seamless digital process at competitive rates.”
With the launch of a digital Islamic financing experience for Tesla customers, DIB is leading the way in offering ethical and sustainable financing options for customers in the UAE. To learn more and start the application process, all interested Tesla buyers are invited to visit Tesla’s website. The program is available for all Tesla vehicles.
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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 75bln 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
Please follow us on DIB’s social channels:
https://www.facebook.com/dib.uae/
https://www.youtube.com/user/DubaiIslamicBank
https://twitter.com/DIBtoday
https://www.linkedin.com/company/dubai-islamic-bank
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For more PR information, please contact:
Dubai Islamic Bank
Kashif Moosa
Head of Investor Relations & Strategic Communication
Email: kmoosa@dib.ae
Weber Shandwick
Areen Alfahel
Account Executive
Email: Aalfahel@webershandwick.com

© Press Release 2022
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