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ADIB, Abu Dhabi Islamic Bank Abu Dhabi Islamic Bank (ADIB), the Islamic financial institution, and Abu Dhabi Global Market (ADGM), an international financial center in the UAE capital, have signed a Memorandum of Understanding (MoU) to collaborate to support the growing demand in Abu Dhabi than the financial world.
The MoU obliges ADIB to provide preferential Shariah compliant banking services to ADGM registered and licensed entities and dedicated relationship managers, and to facilitate knowledge sharing on the latest banking and financial developments.
The memorandum of understanding establishes a formal framework for cooperation and assistance between the World Bank and Abu Dhabi Global Financial Center. Initiatives related to fintech.
In addition, the MOU aims to enhance cooperation between the two entities to provide preferential banking services such as fast and efficient bank account opening to ADGM registered and licensed entities, as well as dedicated relationship managers, among others.
Commenting on the partnership, Nasser Al Awadhi, CEO of Abu Dhabi Islamic Banking Group, said: “This MoU is a strategic milestone in ADIB’s plan to contribute to the economic and financial sector growth of the Emirate of Abu Dhabi and the UAE.
In partnership with ADGM, we are committed to advancing a vibrant business environment and supporting a thriving financial ecosystem. ADIB will provide ADGM-registered entities with a seamless banking experience, bespoke financial solutions and expertise through a wide range of bespoke products and services to help them realize their full potential. “
Dhaher bin Dhaher, Chief Executive Officer, ADGM Registry (RA), said: “The MoU between ADGM and ADIB will establish further collaboration in the banking and financial services sector.” – ibsintelligence
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