Message from the GROUP CEO

Over the past few years, Dahabshiil Group Holdings, together with our partners and agents, has succeeded in building a modern regional bank, Dahabshil Bank International (DBI) provides a wide range of financial services to our customers in the Horn of Africa. Within a short period, DBI has demonstrated strong capabilities in serving an increasingly demanding customer base consisting of individuals, businesses and international organizations operating in the region. Islamic finance has grown dramatically in our regional and around the world in the last decade. As a fully Sharia-compliant institution, DBI is proud to be part of this global phenomenon.

Backed by the strength of the Dahabshiil Group, we thrive on our tradition of professionalism, strong understanding of the regional market, and proven track record of helping our clients achieve business growth and profitability. This has been a period of milestones for the bank – re-branding, introduction of new technologies, attracting major corporate financing, expanded support to SMEs, and playing a key role in the development process.

At DBI, we have assembled a world-class team of banking and financial professionals that operates at the highest ethical standards of international banking practice. Our role as a bank goes beyond commercial banking transactions. We offer advisory services such as project structuring and financial planning. The management team is supervised by an experienced Board of Directors and guided by a reputable Advisory Board.

We are now embarking on the next generation of banking in the region, providing quality service and innovative products. We recognize our customers’ business requirements are becoming increasingly complex and the range of options available are constantly widening. DBI places a great emphasis on effectively identifying and analyzing the specific aspects of every case by offering a bespoke solution around customers’ individual needs.

On behalf of our professional and dedicated employees, DBI is grateful for the opportunity to serve our customers in a manner that contributes effectively to their personal and corporate goals. We are proud of our contribution to the growth of the banking and financial sector in our region and look forward to providing innovative and dynamic services to our customer.

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Identification Documents

  • A valid proof of Identity of each signatory (current Driver’s License/ National ID/ International passport/ Student ID card-for students)
  • Proof of address – utility bills for the 3 previous months/certificate of residence/ tenancy agreement
  • Two passport size photo’s
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MusharakahMutanaqisah:

MusharakahMutanaqisah (MM) means diminishing partnership with an imbedded Ijarah (lease) element. Itisa form of Musharakah where the financier and the client participate in a joint commercial enterprise or property. This enterprise is converted into undivided ownership of both the financier and the client. Over certain period the equity of financier, divided into equal value units, is purchased by the client. And ultimately the client becomes the sole owner of the enterprise.

Modus Operandi

  • Customer identifies the asset with price.
  • Seller provides details, terms & conditions.
  • Customer approaches the bank asking for MusharakahMutanaqisah financing.
  • Bank approves with terms & conditions i.e. profit sharing, loss sharing and payment of capital portion for agreed period.
  • Customer & bank contribute the capital i.e. 10:90.
  • The asset is leased to the customer based on monthly rental.
  • Customer pays the rental along with fixed capital portion.
  • Monthly rental amount will be jointly shared among bank & customer according to the % share-holding at particular time i.e. changing as customer redeems the bank’s capital portion. Thus customer sharing ratio gradually increase after each rental.
  • Transfer of ownership will take place upon entire payment is made and eventually the asset is fully-owned by the customer.
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Istisna’:

Istisna’ means sale on order i.e. the sale of goods by way of placing an order where the price is paid in advance or progressively but the assets are manufactured and delivered at a later future date.

Modus Operandi

  • The buyer (Customer) places an order to purchase an asset (e.g. building, house) to be delivered in the future.
  • The buyer requires the seller (Bank) to construct the asset based on the specification that stipulated in the sale and purchase contract that agreed by both of the contracting parties. These specifications include the nature, type, quantity of the asset and also delivery date.
  • Then, both of the parties decide and agree with the sale and purchase price and any changes cannot be made after that.
  • The payment can be made either on spot cash or in installments. It’s not required for the buyer to pay the full price at the time of contract.
  • Lastly at the delivery date, the seller will deliver the order to the buyer.
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Murabaha

Murabahah or murabaha, (Arabic مرابحه): a sale transaction, compliant with Shariah, where the bank (seller) expressly mentions the cost it has incurred on the commodities to be sold and sells it to a customer by adding some profit or mark-up, which is known to the customer.

Modus Operandi

  • The bank first determines the requirements of the customer in relation to the asset to be acquired, period and manner of repayment.
  • The bank purchases the asset concerned
  • The bank subsequently sells the said asset to the customer at an agreed price which comprises:
    • The actual cost of the asset to the bank;
    • The bank’s margin of profit
  • Customer settles the payment in lump sum or in installments within the period and in the manner so agreed
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