Abu Dhabi Islamic Bank is an Islamic bank based in Abu Dhabi

Abu Dhabi

Abu Dhabi , literally Father of Gazelle, is the capital and the second largest city of the United Arab Emirates in terms of population and the largest of the seven member emirates of the United Arab Emirates. Abu Dhabi lies on a T-shaped island jutting into the Persian Gulf from the central western...

 city, in the United Arab Emirates

United Arab Emirates

The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...

.

Establishment

Abu Dhabi Islamic Bank was established on 20 May 1997 as a Public Joint Stock Company through the Amiri

Amiri

Amiri may refer to:* Amiri, Aden Protectorate, South Arabia* Amiri decree, the decree of an Emir or his representatives* Amiri Hospital, a general hospital in Kuwait CityPeople named Amiri:* Al Amiri, Iranian philosopher...

 Decree

Decree

A decree is a rule of law issued by a head of state , according to certain procedures . It has the force of law...

 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.

Capital information

ADIB commenced its operations with a paid-up capital

Capital (economics)

In economics, capital, capital goods, or real capital refers to already-produced durable goods used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process...

 of One Billion Dirham

Dirham

Dirham or dirhem is a unit of currency in several Arab or Berber nations, and formerly the related unit of mass in the Ottoman Empire and Persian states...

s divided into hundred million

Million

One million or one thousand thousand, is the natural number following 999,999 and preceding 1,000,001. The word is derived from the early Italian millione , from mille, "thousand", plus the augmentative suffix -one.In scientific notation, it is written as or just 106...

 share

Share (finance)

A joint stock company divides its capital into units of equal denomination. Each unit is called a share. These units are offered for sale to raise capital. This is termed as issuing shares. A person who buys share/shares of the company is called a shareholder, and by acquiring share or shares in...

s, the value of each share being ten dirhams. The shares are quoted on the Abu Dhabi Securities Market.

Founders

The founders of Abu Dhabi Islamic Bank hold 39% of its equity while the remaining 61% is held by approximately 100,000 shareholders. The founding shareholders of ADIB are:

• Members of the Ruling Family
• The Abu Dhabi Investment Authority
  Abu Dhabi Investment Authority
  The Abu Dhabi Investment Authority is a sovereign wealth fund owned by Abu Dhabi, United Arab Emirates founded for the purpose of investing funds on behalf of the Government of Abu Dhabi....
  
   ADIA
  Abu Dhabi Investment Authority
  The Abu Dhabi Investment Authority is a sovereign wealth fund owned by Abu Dhabi, United Arab Emirates founded for the purpose of investing funds on behalf of the Government of Abu Dhabi....
  
  
• Prominent UAE Nationals

Board of directors

• Chairman

H.E. Majed Salem Khalifa Al Romaithi

• Deputy Chairman

H.E. Khaled Abdullah Neamat Khouri

• Managing Director

H.E. Ahmed Darwish Al Marar

• Board Member

H.E. Juma Khamis Al Khaili

• Board Member

H.E. Abdul Rahman Mohammed Al Jasmi

• Board Member

H.E. Ragheed Najeeb Shanti

• Board Member

H.E. Mehdi Dazi

Official website

• ADIB Official Website

CEO, Executive Chairman and Majority Shareholder
Tirad Mahmoud
Managing Director
Khamis Buharoon