Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank PJSC

Company type	Public
Traded as	ADX: ADIB
Founded	20 May 1997
Headquarters	Abu Dhabi , United Arab Emirates
Website	www.adib.ae

Abu Dhabi Islamic Bank PJSC (Arabic: مصرف أبوظبي 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.^[1]

Capital information

ADIB commenced its operations with a paid-up capital of one billion dirhams divided into one hundred million shares, the value of each share being ten dirhams. The shares are quoted on the Abu Dhabi Securities Market.^{[citation needed]}

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
• Acting 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.^[2]

Official website

• ADIB Official Website
• ADIB Egypt Website
• ADIB UAE Website

See also

• List of banks
• List of banks in United Arab Emirates

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]
6. ADIB Board of Directors' information [6]