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Islamic Banking

This website provides an in depth analysis of the Bank’s standard governance practices. Recent developments in corporate governance, including, amongst other things, the Board’s activities, meetings, performance evaluation, remuneration and interests, management remuneration and incentives, internal controls and audit arrangements, and Islamic banking, in each case in the most recent financial year, can be found in the Bank’s latest annual report.

Click here to view the Bank's latest annual report.

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  • Islamic Banking

    ADCB Islamic Banking, the Islamic Banking window of ADCB, was launched in September 2008, and is a separate business unit of the Bank, comprised of the Bank’s Islamic banking department and Abu Dhabi Commercial Islamic Finance PSC, a wholly-owned subsidiary of the Bank.

    ADCB Islamic Banking is part of the Bank’s governance framework and supervision, and reports to the Bank’s senior management. In addition, the Shari’ah governance is carried out under the guidance of a three-member Shari’ah Supervisory Board, which operates according to the IFSB standards and guidelines as laid by AAOIFI.

    The Bank maintains a separate set of general ledger and accounts to ensure that the books of accounts for the Islamic Business are accounted for separately as per AAOIFI standards. The Bank has appointed a dedicated Islamic accountant and routes all Islamic transactions through a dedicated Islamic core banking system. The accounts for the Islamic Business are reported internally, and the accounts of Abu Dhabi Commercial Islamic Finance PSC are approved by its board of directors. The Bank’s consolidated accounts include the results of ADCB Islamic Banking.

    As an Islamic financial institution, the processes and accounts of ADCB Islamic Banking are subject to internal and external audits, as well as Shari’ah audits through its Shari’ah coordinator, and the results are monitored internally and by the Shari’ah Supervisory Board.

    The Shari’ah Supervisory Board meets quarterly with ADCB Islamic Banking to review the business progress, oversee the day to day operations and ensure Shari’ah compliance. The Shari’ah Supervisory Board is also updated regularly with the strategy, policies and procedures of the Bank. To facilitate the process, the Bank liaises with Dar Al Sharia, a Shari’ah consultancy firm that manages the role of the Shari’ah coordinator.

    Fatawas (edicts) are issued by the Shari’ah Supervisory Board for all products to certify compliance with the procedures of Shari’ah. This includes approving the product structure including the underlying Islamic contract, legal documentation, operational process flow and all associated product literature. The product Fatwa are issued by the Shari’ah Supervisory Board and are published on the Bank’s web site and displayed at the Bank’s branches – see

    Islamic liabilities are used to fund Islamic Assets and any excess is placed in Shari’ah compliant investments. A dedicated resource in Treasury manages the Islamic funding. Staff members undergo regular training for all products and process.

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