DIB Appoints Fadhel Abdulbaqi Al Ali as Board Chairman
Al Ali succeeds Mohammed Ibrahim Al-Shaibani, who stepped down for personal reasons, at a bank valued at $14.3 billion on the Dubai Financial Market.
Tariq Benali Tariq Benali covers business and corporate news across the UAE and MENA for Anecdoted, tracking the deals, leadership moves and regulatory shifts behind the region's companies. tariq@anecdoted.com
Dubai Islamic Bank has appointed Fadhel Abdulbaqi Al Ali as chairman of its board of directors, effective September 30. He takes over from Mohammed Ibrahim Al-Shaibani.
The bank announced the change on Wednesday. Al Ali arrives with more than 30 years of work spanning corporate governance, banking, investment, real estate and hospitality.
Regulatory and corporate seats
He currently chairs the Dubai Financial Services Authority and Majid Al Futtaim Capital. He also serves on the board of the Commercial International Bank of Egypt and holds seats on the Higher Committee for the Development of the Economic and Financial Sector and on the Financial Stability Council.
His executive record includes a term as chief executive of Dubai Holding, along with the roles of deputy chief executive and group chief operating officer at First Abu Dhabi Bank.
What the board said
The board said it welcomed the appointment and expressed confidence that his leadership experience, strategic perspective and record of institutional stewardship would support DIB as it advances its long-term priorities and strengthens its position as a leading Islamic financial group.
Those priorities span both the domestic franchise and a set of overseas markets where the bank offers Shariah-compliant services.
The outgoing chairman
Al-Shaibani resigned for personal reasons with effect from September 20, according to a filing with the Dubai Financial Market. The bank thanked him for his leadership, service and contribution during his tenure, and noted the role his stewardship played in its progress and evolution.
His exit and Al Ali's start date leave a ten-day gap at the top of the board, with the incoming chairman formally in place from the end of the month.
Growth beyond the UAE
The bank has been extending its international reach. In 2025 it raised its minority stake in T.O.M. Group from 20% to 25%, widening its exposure to digital banking and the fintech sector in Türkiye.
In June, DIB priced a $1 billion Additional Tier 1 perpetual, non-callable six-year sukuk. The transaction ranks among the largest recent AT1 deals in the Gulf and reflects sustained investor appetite for Islamic capital instruments.
Market position
The lender's market capitalisation stood at $14.3 billion, or AED 52.4 billion, on the Dubai Financial Market as of October 1, 2026.
It placed 30th in a 2026 ranking of the region's 100 most valuable companies.
