Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has raised over AED 587 million ($160 million) through its new flagship fund, the ADIB Global Sukuk Fund which was launched in October 2021. The Fund offers investors an opportunity to invest in a diversified portfolio of regional and international Sukuk instruments. It is designed to capture the opportunities available within the Shariah-compliant universe of sovereign, quasi-sovereign, financial institutions and corporate sukuk, issued locally, regionally, as well as globally.
The successful raise demonstrates significant market appetite for high-quality Sharia-compliant investment products which ADIB specifically intends to cater for going forward.
The fund is suitable for investors seeking regular returns above prevailing cash rates over a medium to long-term investment period.
Michael Gregory Davis, ADIB Global Head of Wholesale Banking Groups, said: “We are extremely pleased with the strong demand received for the ADIB Global Sukuk Fund during its initial marketing phase which led to raising more than $160m at its first closing. Our clients are particularly attracted to the Fund’s investment grade average rating, low volatility, relatively short duration, the option for regular attractive quarterly income distribution as well as its daily liquidity. We believe the Fund’s compelling investment proposition will help us to grow the Fund further and to establish it as one of the leading global Sukuk funds in the market.”
Investors interested in finding out more about the Fund are encouraged to contact their ADIB Relationship Manager. ADIB is committed to being a leader in Islamic Banking and to consistently introducing new services and products that meet its clients’ specific investment needs.
ADIB is a leading bank in the UAE with more than AED 133 billion in assets. Over 1 million customers benefit from the third largest distribution network in the UAE with 70 branches and more than 500 ATMs. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access to their accounts 24 hours a day. ADIB provides retail, corporate, business, private banking and wealth management solutions. The bank was established in 1997 and its shares are traded on the Abu Dhabi Securities Exchange (ADX).
In the UAE, the Bank has more than 2,000 employees and remains one of the leading banks in the recruitment, development and promotion of local talent in all the markets in which it operates. The bank has one of the highest Emiratisation ratios with more than 36 percent of the bank’s workforce being UAE Nationals. ADIB has presence in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Iraq and Qatar. Named “Best Islamic Bank globally” by The Financial Times’ The Banker publication, ADIB has a rich track record of innovation, including introducing the award-winning Ghina savings account, award-winning co-branded cards with Etihad and Etisalat and a wide range of financing products.
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