Abu Dhabi Islamic Bank (ADIB), the Islamic lender that raised $1 billion from a hybrid sukuk sale last month, launched a branch in the Sudanese capital Khartoum, as part of its regional expansion plan.
ADIB, Abu Dhabi's biggest Sharia-compliant bank by market value, is also the fist lender from the United Arab Emirates to receive a banking license in Sudan.
The bank, which hopes to take advantage of growing trade ties between the Middle East and Africa, will offer wealth management and corporate banking services in Sudan.
ADIB is also a stakeholder in Bank of Khartoum, Sudan's oldest bank, along with other Gulf lenders such as Dubai Islamic Bank, Sharjah Islamic Bank.
The Abu Dhabi bank raised $1 billion from a Sharia-compliant hybrid Islamic bond, or sukuk, to boost its core capital in November.
* Reuters
The Sky Is Pink
Director: Shonali Bose
Cast: Priyanka Chopra Jonas, Farhan Akhtar, Zaira Wasim, Rohit Saraf
Three stars
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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RESULT
RS Leipzig 3
Marcel Sabitzer 10', 21'
Emil Forsberg 87'
Tottenham 0
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