How to open a bank account in Abu Dhabi Islamic Bank (ADIB)

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

May, 2020

Last contact

April, 2024

Last update

February, 2024
  • founded in 1997, an Islamic bank with its headquarters in Abu Dhabi;
  • the bank opens savings (deposit) and business accounts;
  • the bank only opens accounts to local companies: LLC, Free Zone Company, personal accounts for residents and non-residents;
  • don’t open accounts for non-Emirati companies;
  • open accounts in AED, EUR, USD, GBP;
  • minimum deposit from AED 5 000 (Business One), from AED 250 000 (Business Premium), from AED 750 000 (Business Elite);
  • the beneficial owner must visit the UAE for account opening;
  • the bank issues bank cards;
  • pre-approval procedure: a positive answer means that the account is most likely to be opened;
  • incoming payment – AED 75 (~ USD 20), outgoing payment – AED 110 (~ USD 30)*;
  • the monthly account maintenance fee is AED 375 (Business One), AED 250 (Business Premium), AED 50 (Business Elite)*;
  • online banking in English

* These fees are indicative and may vary depending on the banking package chosen by the client

GSL rating
Beginning of cooperation
May, 2020
Last contact
April, 2024
Last update
February, 2024
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General information and rating

Not rated
Global rating
Not rated
Countrywide rating
Countrywide rating of the head bank
Global rating of the head bank
Year of foundation
1997
History
Abu Dhabi Islamic Bank (ADIB) was established in 1997 and started its banking operations in 1998. Abu Dhabi Islamic Bank is a universal bank providing retail, private, corporate and investment banking products and services. Abu Dhabi Islamic Bank pays special attention to Islamic Banking principles. Except for its domestic market, the United Arab Emirates, Abu Dhabi Islamic Bank conducts selected operations in Egypt, Iraq, Saudi Arabia, Qatar and the United Kingdom
Personnel
The staff speak English
Bank’s shareholders
Emirates International Investment Company LLC - 39,4%; Abu Dhabi Investment Counsil - 7,62%; Other investors - 52,98%. All of the shares in the company are nominal of which (75%) shall be fully owned by nationals of United Arab Emirate, while non-nationals are permitted to own shares of the company to the extent, but not exceeding (25%), and maximum limit per shareholder is (5%)
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
Compare banks

    Minimum requirements

    1 260
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    1 260
    Initial deposit of funds, €
    1
    Deadline for the initial deposit, month
    Minimum balance, €
    The minimum deposit from AED 5 000 (Business One), from AED 250 000 (Business Premium), from AED 750 000 (Business Elite)
    Transactions permitted per month
    There are no restrictions on the number of transactions
    Initial deposit of funds, €
    The initial deposit equals the minimum balance
    Deadline for the initial deposit, month
    The initial deposit is made at the time of opening the account
    How fast payments are executed
    The payments are executed same day

    Tariffs and services

    28
    Outcoming transfer, €
    19
    Incoming transfer, €
    1 138
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Outgoing payment - AED 110 (~ USD 30)
    Incoming transfer, €
    Incoming payment - AED 75 (~ USD 20)
    Account maintenance, €/year
    The monthly account maintenance fee is AED 375 (Business One), AED 250 (Business Premium), AED 50 (Business Elite)
    Distant access to the account
    Online banking in English
    Financial products
    It is a universal bank. Offers retail, private, corporate and investment banking products and services
    Credit/debit cards
    Yes

    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Savings & current
    Visit to the bank
    The beneficial owner must visit the country for account opening
    Required
    For a corporate account: set of the company’s corporate documents; completed bank questionnaires for the company and owner; bank statements from the company account for the last 6 months (if the company is new, then bank statements from the owner’s other company account); copies of existing contracts with partners; office lease contract, cash flow chart, ownership structure chart, etc.

    For a personal account: proof of identity (passport); proof of address (not older than 3 months); Resident Visa; CV; bank reference letter + bank statements for the last 6 months.

    The list is not exhaustive. The bank may request any other documents and information
    Types of accounts
    Savings; Current
    Chances to open an account
    Predictable

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    Comments

    • userpic round-small-mask

      10.01.2023 20:20:33 Syed owais

      am in India i want to open an account

    • YOUR CONSULTANT round-small-mask

      11.01.2023 09:13:32 YOUR CONSULTANT, If you are ALREADY a GSL customer

      Hello!
      We sent you information by e-mail

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