Abu Dhabi, UAE — Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the growth needs of the financial community of Abu Dhabi.
They signed an agreement under which the ADIB will provide clients with ADGM licensed managers for Sharia compliant banking services and share news on developments in finance sector.
Also, a formal framework for cooperation in education, business development between the Bank and ADGM is also a part of the deal.
This also includes co-hosting Digital Lab, creating awareness research related to financial services, banking, and fintech-related initiatives.
The deal also aims to increase collaboration between the two entities to initiate preferential banking services, such as quick bank account opening.
In addition, the two parties seek to support each other’s key initiatives like the ADGM Digital Lab and co-host fintech events and workshops.
The partnership will further drive UAE national work placements and tailored Shari’a compliant finance training programs.
This also includes SME Shari’a compliant financing platform, fintech sandbox, and corporate innovation programs, among others.
The announcement was made during the first edition of Abu Dhabi Finance Week (ADFW) hosted by ADGM between 14th and 18th November, 2022.
It was in partnership with key economic drivers of the Abu Dhabi economy and a group of global and regional financial institutions.