Al Hilal Bank sells Al Hilal Takaful to Siraj Holdings LLC
Press release
The full integration of the three banks was completed in early April 2020, creating a fully unified, powerful and resilient banking group.
Highlights
The divestment was driven by Al Hilal Bank’s strategic decision to focus on delivering high-quality retail banking services, primarily through digital channels.
Al Hilal Bank, a wholly-owned subsidiary of Abu Dhabi Commercial Bank (ADCB), has completed the sale of Al Hilal Takaful, its Islamic insurance subsidiary, to Siraj Holding LLC.
The divestment was driven by Al Hilal Bank’s strategic decision to focus on delivering high-quality retail banking services, primarily through digital channels.
Al Hilal Bank was acquired by ADCB in May 2019, following the merger between ADCB and Union National Bank (UNB). The full integration of the three banks was completed in early April 2020, creating a fully unified, powerful and resilient banking group.
© 2000 - 2023 Al Bawaba (www.albawaba.com)
Background Information
Al Hilal Bank
Al Hilal Bank is owned in full by the Abu Dhabi Investment Council, which is the investment authority of the Government of Abu Dhabi. The bank is working with an authorized capital of 4 billion Dirhams, and is authorized to operate as an Islamic trading bank. Al Hilal Bank aims to become the leading financial institution in the region and to increase the growth of Islamic banking with a new direction, towards new technologies and special services.
Check out our PR service
Subscribe
Sign up to our newsletter for exclusive updates and enhanced content
