The Abu Dhabi Islamic Bank (ADIB), the world's biggest Islamic banking institution, was officially opened in the capital by Sheikh Abdulla bin Zayed Al Nahyan, Minister for Information and Culture, in April 1999. The bank is fully committed to becoming a major contributor to the social and economic development of the UAE. A team of professional, experienced bankers with a thorough knowledge and understanding of Islamic banking will manage the bank in accordance with international banking standards. In contributing to the local economy through Islamic financing, the bank provides opportunities for both commercial investment and service projects, there by improving the returns on investment for its customers.
The ADIB with a paid up capital of Dh 1 billion was founded as a joint stock company under an Emir decree issued by Sheikh Khalifa bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Fifty - five percent of its capital has been raised through public issues of shares with a par value of Dh 10, and the remainder is distributed between the Abu Dhabi Government (10 per cent) founders’ subscriptions of Dh 390 million and the Private Department of President His Highness Sheikh Zayed bin Sultan Al Nahyan which has invested Dh 50 million. The bank, which opened its doors to the public on 11 November 1998 at premises on Najda Street, provides a range of retail and corporate banking services and carries out its business activities in strict conformity with the principles of sharia.