Abu Dhabi, 13 May 2013: Renowned U.S. economist Larry Summers met with Abu Dhabi Islamic Bank Chief Executive Officer Tirad Al-Mahmoud and his leadership team last week to discuss developments in the regional and global economy during a visit to Abu Dhabi.
Larry Summers was accompanied by a delegation from Citibank, including Atiq Ur Rehman, CEO, Middle East & North Africa; Aziz Rahman, Managing Director and Head of Financial Institutions, Middle East; Alberto Verme, Citigroup's Chairman of Banking for Europe, Middle East and Africa; and Ahmet Bekce, Corporate Banking Head, Middle East and Turkey.
Larry Summers served as the Secretary of Treasury under U.S. President Clinton and was appointed Director of the White House National Economic Council by President Barak Obama in 2009. He also served as the 27th President of Harvard University.
Commenting on the meeting, Tirad Al-Mahmoud said: "It was a lively discussion because the global economy is at a very important juncture, with major economies still struggling to recover, as well as uncertainty in the direction of monetary policy. We exchanged views on many things, including where benchmark rates may be trending, and Larry was particularly interested to hear how the UAE economy is showing very positive signs of a return to its healthy long-term growth trajectory."
-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 -Awards:
1. Sheikh Khalifa Excellence Award - Gold category - in 2012.
2. Best Islamic Bank in the UAE by Global Finance in 2012 for three consecutive years.
3. "Best Overall Bank in the UAE in customer service" in 2012) by Ethos Consultancy
4. "Best Call center Award in the UAE" for 2012 by Ethos Consultancy for two consecutive years.
5. Best Branch Award in the UAE by Ethos Consultancy for 2012 for two consecutive years
6. Best Islamic Bank in the UAE by EMEA Finance magazine for 2012
7. Best Islamic Bank in the UAE by Islamic Finance News magazine for 2012
8. Best Islamic Bond by International Financing Review for 2012
9. Best Co-branded card and best covered card by Banker Middle East for 2012
10. Best Islamic card and best co-branded card by Smart Card Middle East for 2012
11. Human Resource Development award by Emirates Banking Institute and Finance for 2012
12. Best Islamic Investment strategist of the year by Islamic Finance News for 2012
13. Excellence in Islamic Banking Award by the International Alternative Investment Review for 2012
14. Best Islamic Retail Bank by Islamic Finance News for 2012
15. Best Corporate deal of the year by Islamic Finance News for 2012
16. Best Mudarabah Deal of the year by Islamic Finance News for 2012
17. Best Syndicated deal of the year by Islamic Finance News for 2012
18. Best UAE deal of the year by Islamic Finance News for 2012
For media information, please visit www.adib.ae or contact:
ADIB
Lamia Hariz
Corporate Communications
Mobile: +971 2 4128093
Email: Lamia.Hariz@adib.ae lively
Brunswick Group
Dina Ghandour
Phone: +971 2 2344600
Email: ADIB@brunswickgroup.com
© Press Release 2013
