Abu Dhabi, UAE: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, today announced that it has been named the safest bank for 2022 by New York-based trade publication Global Finance Magazine, marking the first time the bank has earned this distinction. ADIB was honored at the awards ceremony held in conjunction with the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington, DC. ADIB ranked first in the “Safest Islamic Bank 2022” category and sixth safest bank among conventional and Islamic banks in the Middle East.
This recognition highlights ADIB’s strong financial position, prudent risk management, advanced cybersecurity systems and track record of delivering innovative and safe Sharia’ah-compliant products to its customers. ADIB has constantly amplified its digital offerings and capabilities and has gradually introduced innovative features and services that provide its customers with simple, secure and easier banking experiences.
Commenting on this award, Nasser Al Awadhi, Managing Director of ADIB Group, said: “We are extremely proud to receive this prestigious distinction and to be ranked as the “safest Islamic bank”. This distinction demonstrates our commitment to providing safe services. and secure banking experiences with innovative, industry-leading solutions. It reflects the resilience of our franchise, supported by a solid financial base, healthy business momentum and long-standing customer support.”
ADIB conducted its five-year strategic review in 2021, which set out the bank’s renewed focus on becoming a partner for life for customers, the community and colleagues. It has maintained strong and stable capitalization and liquidity positions over the years. Capital ratios remained broadly stable at very healthy and market-leading levels. This has helped maintain brand presence, increased stakeholder confidence and strengthened the bank’s market positioning.
“Built by government support over the past turbulent years, the world’s financial institutions have largely retained their strength, standing as beacons of stability in an unprecedentedly changing world,” said Joseph Giarraputo, Founder and Director Global Finance editorial hailing the newest addition of the safest Islamic financial institution for 2022.
Global Finance’s annual ranking of the world’s safest banks has been the recognized and trusted standard of financial counterparty security for more than three decades. The banks were selected based on an assessment of the long-term foreign currency ratings – from Moody’s, Standard & Poor’s and Fitch – and the total assets of the world’s 1000 largest banks.
ADIB is a leading Islamic bank with over AED 133 billion in assets that was established in 1997 and whose shares are traded on the Abu Dhabi Stock Exchange (ADX). More than one million customers benefit from its extensive distribution network of 70 branches and more than 500 ATMs. The bank also offers world-class online, mobile and telephone banking services, providing customers with seamless digital access to their accounts around the clock. ADIB offers retail banking, corporate, enterprise, private banking and wealth management. ADIB remains one of the leading banks in the recruitment, development and promotion of local talent. The bank has one of the highest Emiratization ratios with over 40% of the bank’s workforce being UAE nationals. ADIB is present in six strategic markets: Egypt, where it has 70 branches, the Kingdom of Saudi Arabia, the United Kingdom, Sudan, Iraq and Qatar. Named “World’s Best Islamic Bank” by the Financial Times publication The Banker and Best Bank in the United Arab Emirates by Forbes, ADIB has a rich track record of innovation, including introducing the world’s first digital Islamic bank to young people and by being the first bank in the world. The United Arab Emirates will allow account opening by facial recognition.
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