Abu Dhabi Islamic Bank has been in business since 1998
Khartoum – Abedalgoum Ashmeag
Sudanese President Omar al-Bashir has opened the first branch of the Abu Dhabi Islamic Bank (ADIB) in Khartoum.
The event, on Wednesday, was attended by a number of cabinet ministers and members of Khartoum\'s diplomatic corporations.
The Governor of the Central Bank of Sudan, Mohammed Khair al-Zubair, said the move would increase Sudanese-Emirati cooperation opportunities. Al-Zubair added that Sudan has played host to all kinds of investment, especially in the financial and banking sectors, since the country’s adoption of the free market.
Al-Zubair pointed out that the new ADIB branch was the 35th establishment in Sudan’s banking sector as well as the first foreign Islamic bank to open in Sudan. He said that the new establishment was a \"valuable addition to Emirati investments\" in Sudan and expressed appreciation of the United Arab Emirates\' backing of Sudan in all fields.
The director of the new Khartoum branch, Mohammed Saleh Hussein, vowed that the bank would channel its efforts toward supporting Sudanese-Emirati financial and economic relations and interests.
Khamis Yuhannoun, a representative from the Central Bank of the UAE, said the objective behind establishing the Khartoum branch was to contribute to the Islamic economy in all fields, highlighting his bank’s support for Islamic funding companies.
The Ambassador of the UAE, Hassan Ahmed al-Shehi, pledged to \"make every effort\" to enhance relations between the two countries. He said the UAE leadership was interested in strengthening ties with Sudan in a number of fields, and increasing the growth of investments and mutual trade through both the public and private sector.
Abu Dhabi Islamic Bank is the first UAE-based financial establishment to be given the licence to provide banking services, by the Sudan Central Bank. The new branch will offer its services to companies and will play a role in developing the Islamic banking sector in Sudan, while also backing social and economic development.
ADIB was founded in 1997, and launched in 1998 when it was inaugurated by Sheikh Abdullah bin Zayed Al Nahian.