Dubai Islamic Bank seeks to increase female customers

05 December 2007
Dubai Islamic Bank (DIB) has relaunched its women only Johara banking brand as part of its plans to boost its female customer base.

About a third of the bank’s 20,000 customers are women and the bank will expand its number of women-only branches from five to eight next year. The bank has also launched a credit card and car loan targeted at women, taking into account the lower risk profile of female borrowers.

“Women are taking more decisions regarding their finances and we want to capture that market,” says Wasim Saifi, executive vice president of DIB. “Wealth is growing and women are managing it. The size of the segment is so huge that it can be looked at as a niche segment.”

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