Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank, has upped its stake in T.O.M. Group from 20% to 25%, reinforcing its presence in Türkiye’s vibrant financial market. This move builds on the initial acquisition made in September 2023.
The T.O.M. Group comprises T.O.M. Katılım Bankası A.Ş., Türkiye’s first licensed digital retail bank; T.O.M. Pay Elektronik Para ve Ödeme Hizmetleri A.Ş., a licensed e-money company; and T.O.M. Finansman A.Ş., a financing company focused on digital innovation.
DIB’s increased investment underscores its confidence in Türkiye’s growing financial sector, driven by a large population and expanding digital infrastructure.
“We are delighted to announce that DIB has decided to raise its shareholding in T.O.M. Group,” said Dr. Adnan Chilwan, Group CEO at DIB. “This decision comes on the back of a market-beating performance and incredible take-up of the recently launched digital bank.
“The increased shareholding not only solidifies DIB’s position as a key stakeholder in Türkiye’s thriving digital banking sector but also underscores our deep-rooted belief in the country’s strategic intent around tech-based economic development.”
DIB also has presence in Indonesia, Pakistan, Sudan, Bosnia and Kenya.
