ADIB may allow 25% foreign ownership

10 February 2010

Abu Dhabi Islamic Bank has said it may allow non-UAE nationals to hold up to 25% of the company's shares, in a move that could possibly attract interest from other countries in the region, Reuters has reported. Foreigners are currently barred from owning shares in the Islamic lender. The bank's board of directors will meet on February 14 to discuss the plan, as well as a share buyback and the 2010 budget plan, the lender said in a statement.

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