Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services institution, has announced the expansion of its global footprint by starting operations in London at the prestigious One Hyde Park at Knightsbridge.
It becomes the first UAE-based Islamic financial institution to receive a banking operations license from the UK Financial Services Authority and to offer full range of services to high net worth individuals.
ADIB London was inaugurated by Sheikh Khalid bin Zayed Al Nahyan and Prince Andrew, the Duke of York, in the presence of Abdulrahman Al-Mutaiwee, the UAE’s Ambassador to the UK and other dignitaries, a number of ADIB customers from the UAE as well as Trad Al-Mahmoud, CEO of ADIB Group and a number of ADIB representatives.
The bank will serve its clients from the UAE whose interests are increasingly international and who often choose London as their base for business and personal transactions.
To provide a heightened customer experience and a relationship-driven service, ADIB London will offer an exclusive Priority Banking center.
Speaking at ADIB London’s inauguration ceremony, Al-Mahmoud said: “I thank Sheikh Khalid bin Zayed Al Nahyan and Prince Andrew for inaugurating ADIB London at One Hyde Park.
This launch signifies the merging of our Islamic financial values with the advanced financial infrastructure and ecosystem of the UK.”
According to Ernst & Young, the UK accounts for $19 billion of Islamic finance assets worldwide.
The receptiveness of the advanced UK financial services sector to Islamic finance is evident from the fact that 37 sukuk issues raising $20 billion are currently listed on the London Stock Exchange.
Besides demonstrating the bank’s commitment to reach out to its customers wherever they are, ADIB London will contribute to the development of the Islamic finance industry in the UK.
Its focus on providing Shariah inspired financial services.
