Dar Al Sharia, a subsidiary of Dubai Islamic Bank, won the 'Mohammed bin Rashid Al Maktoum Business Innovation Award' during a ceremony held at Madinat Jumeirah in Dubai.

Group CEO of Dubai Islamic Bank, Dr. Adnan Chilwan, received the award from H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Chairman of the Dubai Technology and Media Free Zone Authority, on behalf of Dar Al Sharia.

Launched by the Dubai Chamber of Commerce and Industry in cooperation with the UAE Ministry of Economy, the ‘Mohammed bin Rashid Al Maktoum Business Innovation Award’ is currently the nation’s highest level of recognition for companies who deploy outstanding, innovation driven strategies and business practices.

"Receiving the Mohammed bin Rashid Al Maktoum Business Innovation Award is not just a great honour, but an immensely humbling experience", said Dr. Chilwan, "Innovation, a critical element for progress, is largely driven by the leadership’s stance and there is no better example in the world for technological advancement and continuous innovation than the leadership of Dubai. Over the years, this has permeated down to the public and private sector entities across all economic segments within the emirate."

Mian Muhammad Nazir, Head of Dar Al Sharia, said, "The key to Dar Al Sharia’s success has been our dedication to ongoing innovation and further developing services that strengthen and expand the global Islamic finance market. Supported by the largest Islamic bank in the UAE, this award is testament to Dar Al Sharia’s commitment to developing products and services for businesses and consumers within the region and beyond."