DIB's Digital Journey
Acquisition of Noor Bank - key milestones
From a pioneering Islamic bank to becoming a powerhouse in Islamic finance
بنك دبي الإسلامي
Dubai Islamic Bank
#Ready For TheNew
MARCH
Integration
Management Office
MAY & JUNE
Entered execution phase of the
Integration and completed key
deliverables on policies and
operating model. Data
migration in progress.
OCTOBER
Noor Bank fully
integrated with
Dubai Islamic Bank
APRIL
BOD approval to
consider
acquisition of
Noor Bank
SEPTEMBER
Central Bank of
UAE approval
on acquisition
of Noor Bank
DECEMBER
General
Assembly
approved the
acquisition
constituted to drive
integration
2019
Q2
Q3
Q4
2020
Q1
Q2
Q3
Q4
JUNE
BOD resolved to
recommend the
acquisition
NOVEMBER
SCA approval to
hold General
Assembly
JANUARY
Share transfer completed;
Board of Directors of Noor
Bank reconstituted;
Integration Steering
Committee established
APRIL
Integration program
underway, with COVID-
19 risks addressed (work-
from-home, virtual
conferencing, etc.)
JULY-SEPTEMBER
Continued execution phase of
the Integration and completed
key deliverables in technology
platforms' integration. Current
focus is on Cutover readiness
and Dress Rehearsals
Key Highlights
✓ 8 MONTHS To deliver the programme- A record in UAE Banking History
✓ Around 125K Number of customers migrated
✓ 100+ Number of Systems involved
I
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