By: Ramy Sameeh

Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has decided to postpone its ordinary general meeting (OGM), scheduled for today, to 26 June due to an incomplete quorum.

The OGM was set to discuss a capital increase by 168 million shares at par value of AED 1 per share in addition to AED 2 as issue premium.

Furthermore, the Abu Dhabi-listed bank’s shareholders were to discuss raising the ceiling for the Tier 1 non-convertible Sukuk from $2 billion to $3 billion or its equivalent in other currencies.

Established in 1997, ADIB offers Islamic financial solutions to a wide range of customers. Its current capital exceeded AED 3 billion with a customer base of more than 775,000. ADIB boasts 87 branches in the UAE and the third largest ATM network, which includes over 680 ATMs.

Translated by: Nada Adel Sobhi