Abu Dhabi Islamic Bank has officially opened its new branch in Al Murour Area in Abu Dhabi. The new branch is the latest addition in a program of expansion and improvement of ADIB’S delivery network aimed at reaching customers in all corners of the UAE.
“This branch has been opened in accordance with ADIB’s long term plan to offer total accessibility to our customers for all services and in all locations,” reported a bank official. “The opening of this new branch was in accordance with our mission to sharply focus on customer needs, offering innovative products and services and using state-of-the-art service delivery systems.”
The new branch is a full service branch offering consumer, commercial and real estate services, including a dedicated ladies section designed to allow female customers to transact with ease and comfort. The branch will be equipped with state of the art delivery systems and utilise the highest standards of personalised service in meeting customer needs.
Over the past year Abu Dhabi Islamic Bank has increased the range of its product offerings by adding a number of best-of-breed products including “Qawareb” for boat finance and by updating a lot of their financing products. This year the bank witnessed an impressive growth in the customer deposits that reach 67% compared to last year. Customer deposits grew to AED 13.4 billion by the end of the first half of 2005 compared to AED 8.0 billion in the first half of 2004.
Abu Dhabi Islamic Bank Boiler Plate
Abu Dhabi Islamic Bank (ADIB) was established on 20th May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. The bank is as one of the world's largest Islamic banking institutions, by capitalization. Since its inception the bank has witnessed significant growth and development as reflected in the financial results for 2004. Total assets increased by 38% compared to 2003 and customer deposits increased by 56%.
All ADIB contracts, operations and transactions are carried out under the Islamic Shari'ah principles with a strong focus on customer needs and innovative products and services in order to provide a customer focused ethical banking solution. ADIB currently has 19 branches across the Emirates, with 5 more branches to be launched before the end of the year.
ADIB’s lines of products and services are 100% Shari’ah compliant and offer the lowest profit rates available. Services and products include women’s services, a Shari’a complaint Visa covered card, Al Noor Educational Finance, Sahel, Terhal and many more. The bank also attracts a number of national employees and the current percentage of nationals is 24% of the total bank employees.
