ADIB to market Islamic Leasing and Finance Opportunities Fund II exclusively in UAE

Follows successful launch of Fund I by ADIB to UAE-based clients in 2019


Abu Dhabi: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has signed an agreement with WCP Investments (WCPI), a joint venture led by NBK Capital (NBKC), the investment arm of the National Bank of Kuwait, and Wafra Capital Partners (WCP), a New York based investment manager. The agreement provides ADIB an exclusivity to market WCPI’s Sharia’a-compliant Islamic Leasing and Finance Opportunities Fund II (USD) in the UAE.

The introduction of Fund II builds on the success of its predecessor, Fund I, which received considerable demand from ADIB’s Private and Priority Banking clients since it launched in the UAE last year.

The Fund adheres to a private financing strategy which aims to generate attractive risk-adjusted returns of 6.50% per annum by investing in leasing and other asset-based or structured finance transactions across a variety of sectors, credit profiles and assets.

Saif Alkeem, Head of Wealth Management and Priority Banking at ADIB, said: “A key focus for ADIB is to maximise risk adjusted returns for our clients and to provide access to a wide range of investment opportunities, both locally and internationally. The Islamic Leasing and Finance Opportunities Fund II builds on the successful track record of its predecessor, seeking attractive targeted returns based on a disciplined investment strategy. We witnessed significant demand for Fund I when we launched it in 2019. This exclusive offer should appeal to Private and Priority banking clients looking to further diversify their portfolios into new asset classes.”

Faisal Al-Hamad, CEO at NBK Capital, added: “We are proud to partner with ADIB and launch our second fund to offer UAE investors the opportunity to invest in the Program. The Islamic Leasing and Finance Program is one of NBK Capital’s flagship strategies, which has a consistent performance and a resilient track record since the Program’s inception over 20 years ago. We believe the Program capitalizes on a unique investment structure and process that focuses on a partnership approach, interest alignment and risk mitigation.”

As one of the UAE’s leading banks, ADIB has a strong track record developing and delivering best-in-class solutions tailored to meet the financial needs of clients through effective financial planning and asset allocation. The bank frequently launches 100% capital protected equities basket notes, providing clients with access to high-growth companies around the world.

NBK Capital is one of the leading investment management firms in the region focusing on four primary lines of business being asset management, alternative investments, brokerage and investment banking. The firm operates regionally out of Kuwait, Dubai, Istanbul and Cairo. With over 158 investment professionals, NBKC’s approximate assets under management are US$7 billion.

ADIB has received numerous awards for its leading private banking proposition in recent months, including ‘Best Private Bank in the UAE’ and ‘Best Global Private Bank for Islamic Services’ at the Global Private Banking Awards 2019. It has also been awarded ‘World’s Best Islamic Bank’ by the FT’s The Banker Magazine, ‘Best Premium Banking Service in the UAE’ from Banker Middle East, and ‘Best Islamic Bank’ at the EMEA Banking Awards.


About ADIB

ADIB is one of the leading Islamic banks with assets in excess of AED 125 billion. Established in 1997, the bank offers a wide portfolio of retail, corporate and business banking solutions, private banking and wealth management through its award-winning digital channels and extensive branch network. ADIB has a strong presence in six strategic markets, including Egypt, which has 70 branches, as well as Saudi Arabia, the United Kingdom, Sudan and Iraq, and its shares are traded on the Abu Dhabi Stock Exchange(ADIB).).

The bank's team has more than 2,000 employees and continues to be the leading bank in recruiting, developing and attracting local talent in all the markets in which it is located, as evidenced by the bank's high settlement rate of about 36% of its total workforce in the UAE.

In recognition of his excellence and keenness to innovate, the Bank won the "Best Islamic Bank in the World" award from The Banker International Magazine. ADIB has a proven track record of excellence and innovation based on its constant desire to provide the best banking experience to customers, and one of its most recent initiatives is the Digital Transformation Strategy, which has led it to develop a new generation of technology-based banking branches called Express, offering a unique banking experience that combines the benefits of digital banking with a customer-friendly experience, as well as the online financing service "Finance Express", which aims to enable authorized customers to access mobile phone funding within 30 minutes.

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