Abu Dhabi Global Market signs MoU with Abu Dhabi Islamic Bank
Abu Dhabi Islamic Bank (“ADIB”) signed a Memorandum of Understanding (“MoU”) with Abu Dhabi Global Market (“ADGM”), the international financial centre of the UAE capital, collaborating to support the growth needs of the financial community of Abu Dhabi. The association will further reinforce cooperation in various fintech initiatives, drive awareness, support in business development while focusing on education, and engagement.
The MoU entails ADIB providing ADGM registered and licensed entities and dedicated client managers Preferential Shari’a compliant banking services and facilitate knowledge sharing on latest banking and finance developments.
The MoU establishes a formal framework for cooperation and assistance between the Bank and ADGM, and both parties will be focusing on strengthening collaboration in the areas of education and training, business development, co-hosting Digital Lab, creating awareness research pertaining to financial services, banking, and fintech-related initiatives.
Eyad Mahadeen (pictured left), chief legal officer and board secretary at ADGM and Ghaith Mismar (pictured right), general counsel at ADIB head the respective legal departments.