Abu Dhabi Islamic Bank Named as the Most Innovative Islamic Bank by Islamic Finance News

Abu Dhabi Islamic Bank Named as the Most Innovative Islamic Bank by Islamic Finance News

ADIB also won Best Islamic Private Bank, Egypt Deal of the Year, and Best Islamic Bank for Treasury Management

Abu Dhabi, 1 August2022:Abu Dhabi Islamic Bank (ADIB), a leading financial institution,has been recognised as the Most Innovative Islamic Bankof the year by Islamic Finance News Magazine, establishing the bank’s position as an innovation leader reshaping the future of Islamic banking. ADIB also wonBest Islamic Private Bank, Egypt Deal of the Year, and Best Islamic Bank for Treasury Management.

The IFN Awards is one of the most prestigious awards in the Islamic finance industry honouring institutions which have displayed leadership, innovation, and excellence in deal execution. Established in 2006, the IFN Awards have grown significantly since then as demand for Sharia’a-compliant products and services increased manifold around the world.  The winners are selected by a panel of independent experts who judge each transaction based on a set of predetermined criteria.The IFN’s Innovation Awards recognise the most innovative Islamic banks across the world for their digital banking initiatives, strategy, and overall commitment to digital transformation.

As an industry leader in digital innovation, ADIB launched several ground-breaking initiatives that tap on emerging technologies.  Last year, the Bank rolled out a number of digital initiatives, including providing customers with convenient remote account opening services through a governmentlinked facial recognition system, the launch of ADIB Chat Banking, the UAE’s first Emirati customer care chatbot and “Amwali”, the world’s first Islamic digital proposition targeting youth between the age of 8 to 18. Additionally,the bank introduced new integrated digital kiosks – branded ‘Smart Tellers’ by ADIB – across key UAE branches and its first Application Programming Interface (API) developer portal, allowing fintech developers to use ADIB APIs for the purpose of developing their own applications.

Nasser Al Awadhi, Group CEO, ADIBsaid: “ADIB is immensely proud to receive these prestigious awards and to be recognised as the most innovative Islamic bank in the region. Leveraging our solid digital capabilities, we were able to continue our growthstrategy by offering innovative and industry-leading solutions to our customers. We take pride in excelling at providing our customers with the very best serviceand presenting new opportunities for growth. As we look ahead, we will continue to move forward with our innovation agenda and tap into growth opportunities and emerging technologies, all the while focusing on sustainability and ESG agenda.”

As a leading Islamic bank, ADIBhasbeen recognisedfrequently over the years through awards and accolades for its progress and performance in the Islamic finance industry.Most recently it was awarded the ‘Best Islamic Digital Bank’ and ‘Innovator in Islamic Finance’ awards by Global Finance.

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About ADIB 

ADIB is a leading Islamic bank with more than AED 133 billion in assets that was established in 1997 with its shares traded on the Abu Dhabi Securities Exchange (ADX). Over 1 million customers benefit from its large distribution network of 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. ADIB remains one of the leading banks in the recruitment, development, and promotion of local talent. The bank has one of the highest Emiratisation ratios with more than 40 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 and Best Bank in the UAE by Forbes, ADIB has a rich track record of innovation, including introducing the world’s first digital Islamic bank for youth and being the first bank in the UAE to enable account opening through facial recognition.  

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