Approval from the Financial Services Regulatory Authority (“Authority”) to establish a wholly owned subsidiary in the Abu Dhabi Global Markets (ADGM)
Abu Dhabi: In accordance with Article (35) of the Chairman of the Board of Directors of Emirates Securities and Commodities Authority’s Resolution No. (7 R.M) of 2016 concerning the Standards of Institutional Discipline and Governance of Public Shareholding Companies, we hereby notify the Abu Dhabi Securities Exchange that Abu Dhabi Commercial Bank PJSC has received in-principle approval from the Financial Services Regulatory Authority (“Authority”) to establish a wholly owned subsidiary in the Abu Dhabi Global Markets (ADGM) to hold a prudential Category 3C license.
The mentioned approval is subject to certain conditions specified by the Authority.