Abu Dhabi Islamic Bank
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| Type | Public (ADX: ADIB) |
|---|---|
| Founded | May 1997 |
| Headquarters | Abu Dhabi, United Arab Emirates |
Abu Dhabi Islamic Bank (appr. ADIB) is an Islamic bank based in Abu Dhabi city, in the United Arab Emirates.
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Establishment
Abu Dhabi Islamic Bank was established on 20 May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11 November 1998, and was formally inaugurated by Abdullah Bin Zayed Al Nahyan, UAE Minister of Information and Culture on 18 April 1999. All contracts, operations and transactions are carried out in accordance with Islamic Shari'a principles.
Capital information
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.
Founders
The founders of Abu Dhabi Islamic Bank hold 29% of its equity while the remaining 71% 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
Board of directors
- CEO
H.E. Tirad Mahmoud
- Chairman
H.E. Majed Salem Khalifa Al Romaithi
- Deputy Chairman
H.E. Khaled Abdullah Neamat Khouri
- Managing Director
Ahmed Darwish Al Marar
- Board Member
H.E. Juma Khamis Al Khaili
- Board Member
H.E. Abdul Rahman Mohammed Al Jasmi
- Board Member
Ragheed Najeeb Shanti
- Board Member
Mehdi Dazi
Official website
References
- Information about the performance of ADIB shares on Bloomberg.com [1]
- News related to ADIB and related UAE Stock market [2]
- News from Euromoney.com [3]
- ADX quote [4]
- SCA quote [5]
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