will follow an ambitious plan of growth and thus increase our reach to customers who desire accessible and purely Shari'a-compliant products and services.
offers customers a range of innovative shari a- compliant products and services that include the entire range of retail, investment, corporate and commercial banking products and services.
is proud to support the good works of the Red Crescent to help mankind," he added.
Pursuing this approach has put ADNIF
in a better position as evidenced by our financial results during the first year of operations where ADNIF
earned AED 24 million in 2008, compared with the start up expense of AED 10 million in 2007" Al Khouri confirmed.
We are confident that this IPO will be successful and re-ignite capital market participation in the UAE," Arif Esmail Al Khoury, Chairman of the Founders Committee of Watania and managing director of ADNIF
, said in the statement.
We look forward to working closely with Group 3 to ensure that we, and our partners Eastgate Capital Group and ADNIF
are fully rewarded for our long term investment".
Moawia El Amin, Head of Corporate & Commercial Division at ADNIF
has grown significantly over the past 18 months under the NBAD umbrella.
Separately, NBAD's Islamic Financial Unit is setting up a new Islamic insurance company, said Aref Esmail Al Khoury, Managing Director of Abu Dhabi National Islamic Finance, ADNIF
, the bank's Islamic banking division.
Watania's founding shareholders, Abu Dhabi National Islamic Finance (ADNIF
), Abu Dhabi National Insurance Company (ADNIC), Abu Dhabi National Energy Company (TAQA) and Aldar Properties (ALDAR) are among UAE's strongest institutions, and their commitment to this company emphasises Watania's capital strength," said Aref Ismail Al Khouri, Chairman of the Founders' Committee of Watania and Managing Director of ADNIF
Abu Dhabi The Abu Dhabi National Islamic Finance (ADNIF
), the Islamic finance and banking arm of the National Bank of Abu Dhabi (NBAD), joined hands with the Abu Dhabi Chess and Culture Club (ADCC) to unveil the 2010 ADNIF
Grand Prix Blitz Chess tournament.
, the Islamic banking division of National Bank of Abu Dhabi (NBAD) recently arranged a Dh334m ($100m) facility for the project.
He said ADNIF
offers unrestricted investment pools, sukuk structuring, asset management services, in addition to Mudaraba and Istithna-based finances.