UAE’s ADIB Increases Foreign Ownership Limit to 40%

Shareholders of the United Arab Emirates (UAE)-based Abu Dhabi Islamic Bank (ADIB) have given approval to increase the foreign ownership limit (FOL) from 25% to 40%, in response to ADIB’s attempts to expand its investor base.

Group Chief Executive Officer of ADIB, Mazin Manna, stated that cost discipline, optimisation initiatives, as well as investments into digital transformation have yielded benefits to ADIB’s top-and bottom-line results in 2019. This should help position ADIB as a favourable investment opportunity to potential investors.

ADIB’s move to increase its FOL is on par with other financial institutions in the UAE, that are moving towards easing their FO...