Press Release

JCR-VIS Reaffirms Ratings of Dubai Islamic Bank Pakistan Limited

Karachi, June 25, 2010: JCR-VIS Credit Rating Company Limited has reaffirmed the medium to long term entity rating of Dubai Islamic Bank Pakistan Limited (DIBPL) at ‘A’ (Single A) and short-term rating of DIBPL at ‘A-1’ (A-One). The outlook on the rating remains ‘Stable’.

The rating incorporates the recent capital injection of Rs. 0.76b by the parent company Dubai Islamic Bank Dubai, allowing DIBPL to meet the minimum capital requirement of Rs. 6b for 2009, set forth by State Bank of Pakistan. Moreover, DIBPL has also been able to post profitable results for the first time during the full year 2009 and subsequently.

The bank’s infection rate is notably better as compared to its peers. Deposit concentration and dependence on financial market deposits has declined. However, further diversification in core deposits will be beneficial, keeping in view the high proportion of long-term lending.

For further information on this rating announcement, please contact Mr. Jamal Abbas Zaidi (jamal@jcrvis.com.pk / Ext: 408) or Ms. Sabeen Saleem (sabeen@jcrvis.com.pk / Ext: 510) at 35311861-70 or fax to 35311872-3.

Faheem Ahmad
President & CEO

Information herein was obtained from sources believed to be accurate and reliable; however, VIS Credit Rating Company Limited (VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright June 25, 2010 VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to VIS.