Al Hilal Bank Sells Its Takaful Subsidiary to Siraj Holding

Al Hilal Bank, the fully owned subsidiary of Abu Dhabi Commercial Bank (ADCB), has sold its subsidiary Al Hilal Takaful (AHT) to Siraj Holding.

Earlier in January 2020, Al Hilal Bank agreed to sell its subsidiary AHT to Siraj Holding, and the transaction was expected to be completed within Q1-2020, subject to the required regulatory approvals. 

ADCB stated earlier that the decision to divest AHT is driven by Al Hilal Bank's decision to give priority to its focus on providing high-quality retail banking services, mainly through the use of digital channels and to divest non-core businesses.

Al Hilal Bank was acquired by the ADCB Group in January 20...