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

Поиск консультанта...

+44 0 207 822 85 93

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

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Minimum requirements

1 260

Minimum balance, €

No restrictions

Transactions permitted per month

1 260

Initial deposit of funds, €

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

Outcoming transfer, €

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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