Abu Dhabi Islamic Bank PJSC () is an Islamic bank based in

Abu Dhabi Abu Dhabi is the capital city of the United Arab Emirates. The city is the seat of the Abu Dhabi Central Capital District, the capital city of the Emirate of Abu Dhabi, and the UAE's List of cities in the United Arab Emirates, second-most popu ...

city, in the

United Arab Emirates The United Arab Emirates (UAE), or simply the Emirates, is a country in West Asia, in the Middle East, at the eastern end of the Arabian Peninsula. It is a Federal monarchy, federal elective monarchy made up of Emirates of the United Arab E ...

Establishment

Abu Dhabi Islamic Bank was established on 20 May 1997 as a Public Joint Stock Company through the

Amiri Decree An amiri decree is a decree, equivalent to a law, made by an emir or his representatives (Arabic: المرسوم الأميري), generally in Kuwait, Qatar and the United Arab Emirates. Examples are: * Amiri Decree Law No. 13 of 1984 (Bahrain ...

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 Capital and its variations may refer to: Common uses * Capital city, a municipality of primary status ** Capital region, a metropolitan region containing the capital ** List of national capitals * Capital letter, an upper-case letter Econom ...

of one billion

dirham The dirham, dirhem or drahm is a unit of currency and of mass. It is the name of the currencies of Moroccan dirham, Morocco, the United Arab Emirates dirham, United Arab Emirates and Armenian dram, Armenia, and is the name of a currency subdivisi ...

s divided into one hundred

million 1,000,000 (one million), or one thousand thousand, is the natural number following 999,999 and preceding 1,000,001. The word is derived from the early Italian ''millione'' (''milione'' in modern Italian), from ''mille'', "thousand", plus the ...

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: *The Abu Dhabi Investment Authority ADIA *Prominent UAE Nationals

Board of directors

*Chairman - H.E. Jawaan Awaidha Suhail Awaidha Al Khaili *Vice Chairman & Board Member - Mr. Faisal Sultan Naser Salem Al Shuaibi *Group CEO - Mr. Mohammed Abdelbary *Board Member Non-Executive - Mr. Abdulla Ali Musleh Jumhour Al Ahbabi *Board Member Non-Executive - Mr. Abdul Wahab Al-Halabi *Board Member Non-Executive - Mr. Khalifa Matar Khalifa Qaroona Almheiri *Board Member Non-Executive - Mrs. Maha Mohammed Al Qattan *Board Member Non-Executive - Mr. Najib Youssef Fayyad The average tenure of ADIB Board members is 5 years.

Official website

ADIB Official Website

ADIB Egypt Website

ADIB UAE Website

References