Connect with us

Banking & Finance

Abu Dhabi Islamic Bank Gets Approval for 25% Foreign Ownership

ADIB
Abu Dhabi Islamic Bank PJSC, the United Arab Emirates’ second-biggest bank complying with Muslim banking rules, said it obtained the Abu Dhabi Executive Council’s approval to allow foreigners to own up to 25 percent of its shares.
The board decided to implement the decision Nov. 19, according to a statement.
Abu Dhabi Islamic Bank’s board had in 2010 approved a plan to allow foreigners to own shares in the lender. Its bigger counterpart in the neighboring emirate, Dubai Islamic Bank PJSC, currently allows 25 percent foreign ownership.

Published

8 years ago

on

Related Topics:
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Advertisement

Trending