Abu Dhabi Islamic Bank (ADIB) has opened a banking branch in Khartoum, Sudan, after receiving a license from the Sudanese Central Bank.
ADIB is the largest sharia-compliant bank in terms of market value in Abu Dhabi. It is also the fist UAE bank to get a banking licence in Sudan.
Commenting on the launch, ADIB international expansion head, Abdullah Shahi was quoted by Arabianbusiness.com as saying that the bank anticipates that its Khartoum operations will become a key aspect of its international strategy.
"We believe that our new physical presence in Sudan will further enhance our contribution through our delivery of world-class Islamic banking products and services," Shahi added.
ADIB manages a network of branches in Egypt. It is also the first UAE bank to establish a branch in Iraq and operates a banking branch in London.
ADIB is also a stakeholder in Bank of Khartoum, Sudan’s oldest bank, along with other Gulf lenders including Dubai Islamic Bank, Sharjah Islamic Bank.