Abu Dhabi Islamic Bank raises foreign ownership to 40%

Abu Dhabi, July 6 2020: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has announced raising the percentage of foreign ownership to 40%, from 25%, of its issued capital effective from today. The announcement came after obtaining the necessary regulatory approvals from the Central Bank of the United Arab Emirates, the Securities and Commodities Authority, as well as the bank’s shareholders during the Annual General Meeting (AGM) held last March.

Commenting on this announcement, His Excellency Jawaan Awaidha Suhail Awaidha Al Khaili, Chairman of the ADIB, stated: “This move came in response to the heightened interest from international investors in ADIB’s shares, as well as in line with our efforts and commitment to diversifying the bank’s investor base. This milestone will help strengthen the UAE and Abu Dhabi’s positions as one of the most attractive markets for foreign direct investment, through contributing to increasing cash inflows, which will benefit both shareholders and the wider stock market. This will also boost the attractiveness of ADIB’s shares, given the added value that the stock provides to investors.”