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News Article

11 October 2006

ADCB delivers to its clients an Islamic financial solution through its Meethaq Mudarabah Investment Programme.

Abu Dhabi, 11th October 2006: ADCB today announced the launch of its Meethaq Mudarabah Investment Programme (MMI); a product designed to invest customers’ funds in a broad range of Shari’ah compliant assets in line with Shari’ah principles.

Ala’a Eraiqat, Executive Vice President, Head -UAE Banking Group at ADCB said “Islamic banking and finance is one of the fastest growing niches within the banking industry. ADCB is proud to offer its clients an exceptional range of Shari’ah compliant products and services. As with most of ADCB’s investment services, the bank offers Islamic solutions that are structured in-house, as well as drawing on the expertise of a select group of expert partners.

“As part of our commitment to listen to our customers needs and develop solutions in line with their requirements, ADCB has committed itself to developing Islamic Financial Solutions that provide peace of mind, financial security and viable wealth options that are Shari’ah compliant. The Meethaq Mudarabah Investment Programme is another of such an innovation from ADCB to fulfil customer needs” added Ala’a Eraiqat.

“Meethaq Mudarabah Investment Programme allows ADCB customers to have access to a Shari’ah Compliant Investment Vehicle that offers opportunities without any compromise on their religious beliefs. This customer-conscious programme, which is available across ADCB branches in the UAE, is amongst our suite of Islamic offering under the umbrella of ADCB Meethaq - Islamic Financial Solutions.” said Mufaddal Khumri, Assistant Vice President and Product Manager, Islamic Banking at ADCB.

MMI offers attractive expected profit rates for tenors of 3, 6, 12 months with minimum investments as low as AED 25,000 or USD 10,000.

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