Amman, August 28th, 2008: Dubai Islamic Bank (DIB), Dubai International Capital (DIC), and Jordan Dubai Capital (JDC), announced today that a strategic investment in Industrial Development Bank (IDB), a Jordanian bank listed on the Amman Stock Exchange, is imminent. The investment will allow IDB to be converted to a Sharia-compliant institution.

The investment is part an agreement Between DIB, DIC, and JDC to acquire 52 per cent of IDB in order to re-launch the Jordanian bank as a world-class Islamic financing institution, offering a full range of Islamic products for the Jordanian market. IDB will be re-branded as “Jordan Dubai Islamic Bank.”

In addition to ownership of a percentage of IDB, DIB will provide technical support and know how needed to reorganize IDB according to international best practices and provide IDB access to DIB’s extensive background in creating Sharia-compliant financing products.