Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank, announced that it has increased its shareholding in Türkiye-based T.O.M. Group from 20 percent to 25 percent.
The move follows the initial acquisition in September 2023, further cementing DIB’s presence in Türkiye’s dynamic financial landscape.
The T.O.M. Group includes T.O.M. Katılım Bankası A.Ş. (Türkiye’s first licensed digital retail bank), T.O.M. Pay Elektronik Para ve Ödeme Hizmetleri A.Ş. (a licensed e-money company with a rapidly growing customer base), and T.O.M. Finansman A.Ş. (a licensed financing company specialising in innovative digital products), alongside their subsidiaries.
This enhanced investment highlights DIB’s confidence in Türkiye’s financial landscape and its robust fast-scaling digital banking and fintech ecosystem, the bank said.
The move also aligns with DIB’s vision to drive financial inclusion and bring innovative Sharia-compliant financial services to underbanked and unbanked segments.
Dr. Adnan Chilwan, Group Chief Executive Officer at Dubai Islamic Bank,said the decision comes on the back of a market-beating performance and incredible take-up of the recently launched digital bank.
“The increased shareholding not only solidifies DIB’s position as a key stakeholder in Türkiye’s thriving digital banking sector but also underscores our deep-rooted belief in the country’s strategic intent around tech-based economic development,” he said.
“The partnership with T.O.M. Group goes beyond our financial growth aspirations. It reflects the larger objective of building a comprehensive, future-proof and tech-rich global Islamic financial model with built-in intelligence to evolve with the fast-changing customer mindsets of today,” he added.
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