Abu Dhabi Islamic Bank was established on 20 May 1997 as a Public Joint Stock Company through the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11 November 1998, and was formally inaugurated by Abdullah Bin Zayed Al Nahyan, UAE Minister of Information and Culture on 18 April 1999. All contracts, operations and transactions are carried out in accordance with Islamic Shari’a principles.
ADIB commenced its operations with a paid-up capital of one billion dirhams divided into one hundred million shares, the value of each share being ten dirhams. The shares are quoted on the Abu Dhabi Securities Market.
The founders of Abu Dhabi Islamic Bank hold 29% of its equity while the remaining 71% is held by approximately 100,000 shareholders. The founding shareholders of ADIB are:
- The Abu Dhabi Investment Authority ADIA
- Prominent UAE Nationals
Board of directors
- Chairman – H.E. Jawaan Awaidha Suhail Awaidha Al Khaili
- Group CEO – Mr. Nasser Al Awadhi
- Vice Chairman & Board Member – Mr. Faisal Sultan Naser Salem Al Shuaibi
- Board Member – Abdulla Ali Musleh Jumhour Al Ahbabi
- Board Member – Mr. Abdul Wahab Al-Halabi
- Board Member – Mr. Khalifa Matar Khalifa Qaroona Almheiri
- Board Member – Mrs. Maha Al Qattan
- Board Member – Mr. Najib Youssef Fayyad