ADIB signs memorandum of understanding with Israel's Bank Leumi

The deal is intended to open new business and trade opportunities for customers

  
Abu Dhabi Islamic Bank (ADIB) UK, a wholly-owned subsidiary of Abu Dhabi Islamic Bank. Image for illustrative purposes.

Abu Dhabi Islamic Bank (ADIB) UK, a wholly-owned subsidiary of Abu Dhabi Islamic Bank. Image for illustrative purposes.

ADIB/Handout via Thomson Reuters Zawya

DUBAI- Abu Dhabi Islamic Bank has signed a memorandum of understanding with Israel's no. 2 lender Bank Leumi to explore areas for future cooperation in the United Arab Emirates, Israel and other international markets.

The deal is intended to open new business and trade opportunities for customers, and support individuals travelling to Israel or businesses looking to benefit from access to new market, ADIB said in a statement.

Israel and the UAE on Tuesday signed an historic agreement to normalise ties. 

(Reporting by Saeed Azhar; Editing by Kevin Liffey) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))