Abu Dhabi Islamic Bank signs MoU with Abu Dhabi Global Market

Abu Dhabi Islamic Bank signs MoU with Abu Dhabi Global Market

Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, signed a Memorandum of Understanding (MoU) with Abu Dhabi Global Market (ADGM), the international financial centre of the UAE capital, collaborating to support the growth needs of the financial community of Abu Dhabi. The MoU entails ADIB providing ADGM registered and licensed entities and dedicated client managers Preferential Shari’a compliant banking services and facilitate knowledge sharing on latest banking and finance developments.

The MoU establishes a formal framework for cooperation and assistance between the Bank and ADGM, and both parties will be focusing on strengthening collaboration in the areas of education and training, business development, co-hosting Digital Lab, creating awareness research pertaining to financial services, banking, and fintech-related initiatives. Additionally, the MoU aims to increase collaboration between the two entities to initiate preferential banking services, such as fast and efficient bank account opening, for ADGM registered and licensed entities and dedicated client managers, among others.

Commenting on the partnership, Nasser Al Awadhi, Group Chief Executive Officer, ADIB said: “This MoU is a strategic milestone in ADIB’s plan to contribute to economic and financial sector growth in the Emirate of Abu Dhabi and the UAE. In partnership with ADGM, we