UAE, 06 March 2012: Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, announced today that it has signed an agreement with the American University of Sharjah (AUS) to establish the "ADIB Scholarship Fund" with an endowment of AED 5 million. Students from all AUS faculties, with distinguished academic performance, can benefit from the Fund.

The endowment agreement was signed at ADIB Headquarters in Abu Dhabi by Tirad Mahmoud, CEO of ADIB and Dr. Peter Heath, AUS Chancellor, in the presence of AUS Vice Chancellor for Development and Alumni Affairs Dr. Nada Mourtada-Sabbah.

Commenting on the endowment agreement, Tirad Mahmoud said: "We believe that education is the best investment one can make, and we are committed to raising levels of knowledge and qualifications of the community. We aim to encourage more students to pursue a university education and with this endowment, we have demonstrated our willingness to go beyond financing tuition fees."

Dr. Peter Heath expressed his gratitude to ADIB for supporting the educational mission of the university and its willingness to partner with higher education programs to benefit the community. "This generous contribution will actively contribute to the AUS mission of graduating the best and the brightest trained workers, to build a viable human resource pool for the UAE and beyond. We are especially grateful to ADIB for this generous contribution and look forward to continue our mutual collaboration," he said.

Dr. Nada Mourtada-Sabbah, AUS Vice Chancellor, thanked ADIB for its generosity and commented, "The UAE is increasingly upgrading the caliber of its manpower and emphasizes the role of leading institutions of higher education in directing its future development. This generosity of ADIB will contribute considerably to provide opportunities for the best students to pursue their higher education at the AUS."

Scholarships granted by the "ADIB Scholarship Fund" will be available by January 2013 to students from different majors, given that they have excellent academic results and do not have financial capacity to complete their higher education.

-Ends-

About ADIB:
Abu Dhabi Islamic Bank (ADIB) was established on 20th May 1997 as a Public Joint Stock Company following the Emiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by His Highness Sheikh Abdullah Bin Zayed Al Nahyan on 18th April 1999.

ADIB's vision is to be a top-tier, global Islamic financial services group and its mission is to provide Islamic financial solutions to the global community.

The Bank carries out all contracts, operations and transactions in accordance with Islamic Shari'a principles.

ADIB's core values, reflected in all its activities are: Simple and Sensible; Transparent; Mutual Benefit; Hospitality and Tolerance; and Shari'a inspired. It brings to its customers banking as it should be.

ADIB - 2011 Awards

  • ADIB was named the "Best Overall Bank in the UAE in customer service" for 2011 by Ethos Consultancy

  • ADIB won the best HRD Award for 2011 by Emirates Institute for Banking and Finance

  • ADIB won the" Best Branch Award in the UAE" for 2011 by Ethos Consultancy

  • ADIB was named the "Best Islamic Bank in the UAE" for 2011  by Global Finance Magazine

  • ADIB was named Best Islamic Bank for 2011 by Business Banking and Finance Magazine

  • ADIB won Best Corporate Bank  for 2011 by Business Banking and Finance Magazine

  • ADIB was named "The Best Islamic Bank" in the Middle East region for the second year running at the Banker Middle East Industry Awards 2011.

  • ADIB was nominated as "Fastest Growing Bank in the UAE" by the awards jury at the Banker Middle East Industry Awards 2011.

  • ADIB won the Best Islamic Bank in the UAE by EMEA Finance magazine 

  • ADIB won the Best Islamic Bank in the UAE by Islamic Finance News Magazine

  • ADIB won Syndicated loan of the year by Islamic Finance News Magazine

    For media information, please visit www.adib.ae or contact:
    Lamia Hariz                                                                           
    Corporate Communications & Public Relations             
    Abu Dhabi Islamic Bank                                                      
    Tel: +971 2 6100093
    Mobile: +971 50 682 4207                                                               
    Email: lamia.hariz@adib.ae               

    Wasim Ben Khadra
    Manager, Corporate Communications
    Abu Dhabi Islamic Bank
    Tel: +971 2 6100862         
    Mobile: +971 50  6128616               
    Email: wasimbenkhadra@adib.ae

    • © Press Release 2012