Salaam Al ShaksyCEO Dubai Banking Group
Mission
To develop and grow Shari'ah compliant businesses and brands on a global scale through significant and direct acquisitions; by building strategic alliances with valued local partners around the world; to generate exceptional returns and long-term growth, leading to creation of sustainable shareholder value.
The Company is established to tap the immense growth opportunities within the global Shari'ah compliant space, particularly in South East Asia and China, the Indian subcontinent, the Middle East and North Africa region, and Central, East and South Africa.
From its headquarters in Dubai, the Company focuses on identifying anchor investment opportunities in its selected markets. This strategy enables it to partner with a leading company from which it can obtain first-hand knowledge of the market, and to subsequently leverage on the partnership to expand into other suitable investment opportunities.
The Company targets significant and direct acquisitions in a wide range of Shari'ah compliant sectors and industries. Its investment strategy is based on three pillars:
- Financial Services: This includes Islamic Banks, Takaful and Re-takaful companies (Islamic insurance and reinsurance),and Shariah-compliant asset Management
- Hospitality and Realty: Developing a Shari'ah-compliant hotel brand and investing in the related and integrated real estate
- Halal Living: Investments in the halal food and beverage sector, and other Shari'ah-compliant 'tangible' product sectors.
Its current investment portfolio includes:
- 100% ownership of Dubai Bank
- 51% stake in Al Fajer Re-Takaful, a closed Kuwaiti shareholding company
- 40% stake in Bank Islam, Malaysia’s oldest and largest Islamic bank
- 16.66% stake in National Bonds UAE, the national Shari'ah-compliant saving scheme
- 40% stake in ACR Re-Takaful Holdings Limited, the world's largest reinsurance company