ADIB CEO, Tirad Al Mahmoud, addressing the Summit this morning, about the future of Islamic finance.

Abu Dhabi Islamic Bank earns more in the first half-year

: Monday, July 21 - 2014 @ 17:31

The Abu Dhabi market index ADXGI joined the rebound mood in Dubai and closed 1.48 per cent to reach 4,987.83 points on Monday, July 21. All sector indices, with the exception of insurance firms, landed in positive terrain.

Waha Capital, the leasing, aviation and maritime investment firm advanced the most, closing 13.21 per cent higher at AED3.17.

Abu Dhabi Islamic Bank slipped 0.13 per cent to AED6.35. Earlier in the day, the first Islamic financial institution in the UAE capital emirate, said it earned in the first six months an (unaudited) net income of AED846.3 million ($230.78 million), up from AED711.43 million ($194 million). ADIB is currently enlarge its operations in Saudi Arabia and expanded to Algeria. Earlier in autumn last year, ADIB chief executive Tirad Mahmoud (picture) said the biggest African and Arab state by surface was a “promising market.”

Elsewhere, the shares of Islamic insurance firm Abu Dhabi National Takaful Company plummeted 10 per cent, closing as a top loser at AED7.66.

Gérard Al-Fil

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Monday, July 21- 2014 @ 17:31 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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