Abudhabi Islamic Bank

Topics: United Arab Emirates, Abu Dhabi, Bank Pages: 3 (532 words) Published: October 22, 2010
1.1Background of the Company : -
Abu Dhabi Islamic Bank (appr. ADIB) is an Islamic bank based in Abu Dhabi city, in the United Arab Emirates. Abu Dhabi Islamic Bank was established on 20th May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by Abdullah Bin Zayed Al Nahyan, UAE Minister of Information and Culture on 18th April 1999. All contracts, operations and transactions are carried out in accordance with Islamic Shari'a principles

ADIB commenced its operations with a paid-up capital of One Billion Dirhams divided into hundred million shares, the value of each share being ten dirhams. The shares are quoted on the Abu Dhabi Securities Market

The founders of Abu Dhabi Islamic Bank hold 39% of its equity while the remaining 61% is held by approximately 100,000 shareholders. The founding shareholders of ADIB are: * Members of the Ruling Family

* The Abu Dhabi Investment Authority ADIA
* Prominent UAE Nationals
Abu Dhabi Islamic Bank said it may allow non-UAE nationals to hold up to a quarter of the company's shares, in a move that could possibly attract interest from other Middle Eastern countries.

1.2 Mission and Vision of the company : -
Our Mission
Islamic financial solutions for the global community. 
 
Our Vision
To be the top tier Islamic financial services group
Methods to adopt mission : -

1.3 Services : -
Abu Dhabi Islamic Bank PJSC is a United Arab Emirates-based bank that provides Sharia-compliant financial, banking and investment products and services. The Bank offers its services through five divisions: Personal Banking, Corporate Banking, Private Banking, Investment Banking and Institutional Banking. Its Personal Banking division offers current accounts, electronic accounts, savings accounts, short-term investments, goods finance, and Islamic covered card. Corporate Banking offers current...
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