Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank

Company type	Public (ADX: ADIB)
Founded	May 1997
Headquarters	Abu Dhabi , United Arab Emirates

Abu Dhabi Islamic Bank (appr. ADIB) (Arabic: مصرف أبو ظبي الإسلامي ) is an Islamic bank based in Abu Dhabi city, in the United Arab Emirates.

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
• Dr. Waseem Ahmed Khan

Board of directors

• CEO

H.E. Tirad Al Sheikh Mahmoud

• Chairman

H.E. Jauaan Al Khaili

• Deputy Chairman

Khaled Abdullah Neamat Khouri

• Managing Director

Ahmed Darwish Al Marar

• Board Member

H.E. Juma Khamis Al Khaili

• Board Member

Abdul Rahman Mohammed Al Jasmi

• Board Member

Ragheed Najeeb Shanti

• Board Member

Mehdi Dazi

Official website

• ADIB Official Website

References

1. Information about the performance of ADIB shares on Bloomberg.com [1]
2. News related to ADIB and related UAE Stock market [2]
3. News from Euromoney.com [3]
4. ADX quote [4]
5. SCA quote [5]