Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank

File:Adiblogo.jpg
Company type	Corporation
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.

Establishment

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..

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 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

Board of directors

• Chairman

H.E. Majed Salem Khalifa Al Romaithi

• Deputy Chairman

H.E. Khaled Abdullah Neamat Khouri

• Managing Director

H.E. Ahmed Darwish Al Marar

• Board Member

H.E. Juma Khamis Al Khaili

• Board Member

H.E. Abdul Rahman Mohammed Al Jasmi

• Board Member

H.E. Ragheed Najeeb Shanti

• Board Member

H.E. Mehdi Dazi

Sources

• ADIB official website [1]

References

1. Information about the performance of ADIB shares on Bloomberg.com [2]
2. News related to ADIB and related UAE Stock market [3]
3. News from Euromoney.com [4]
4. ADSM quote [5]
5. SCA quote [6]