Website www.adib.ae | Founded 20 May 1997 | |
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CEO Tirad Al Sheikh Mahmoud (2008–) Profiles | ||
Tirad mahmoud ceo abu dhabi islamic bank
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.
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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 one 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: