Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) has raised the foreign ownership limit from 25% to 40% of its issued capital to diversify the bank's investor base, according to a press release on Monday.

Before raising the foreign ownership limit, the bank has obtained regulatory approvals from the Central Bank of the UAE (CBUAE), the Securities and Commodities Authority, and its shareholders during the ordinary general meeting (OGM) convened in March.

This decision aims to attract foreign direct investments (FDI) to the UAE, increase cash inflows, and increase ADIB's added value for investors.

The Chairman of the ADIB, Jawaan Awaidha Suhail Awaidha Al Khaili, noted: "We have adopted a five-year strategic plan that aims to solidify ADIB’s leading position, improve the efficiency of its services, and develop its organisational system, allowing the bank to maintain business momentum, strengthen its performance and generate long-term sustainable value for its shareholders.”