ADCB-IBD signs MoU with Omeir Travel Agency

ADCB-IBD launches Service Ijarah Travel Finance

Pic: Left to Right (Signing Authorities): Mr. Amr al Menhali, Head of Islamic Banking at ADCB, Mr. Abdulla Bin Omeir, Deputy CEO, Omeir Travel Agency

Abu Dhabi, 1May, 2013: Abu Dhabi Commercial Bank Islamic Banking Division (ADCB-IBD) announced the signing of a memorandum of understanding with Omeir Travel Agency, to provide eligible customers of Omeir Travel Agency with its newly launched Service Ijarah Travel Finance.

Service Ijarah Travel Finance, ADCB’s Islamic Banking Division’s innovative new product provides its discerning customers with a Shariah compliant travel finance solution. The Service Ijarah Travel Finance enables customers to make their dream vacation a reality.

Mr. Amr al Menhali, Head of Islamic Banking at ADCB commented: ADCB is delighted to launch Service Ijarah Travel Finance in association with Omeir Travel Agency. both Institutions are Abu Dhabi based leading service providers. As part of this agreement we offer financial convenience to Omeir Travel Agency’s discerning clients for all their travel needs. We are confident that whatever the customers travel ambition; we will finance a solution across the global network.

The MoU between ADCB-IBD and Omeir Travel Agency will fulfill customers travel needs, as they can access a travel finance facility, whilst booking their trip through an industry leading travel service provider.

Mr. Abdulla Bin Omeir, Deputy CEO, Omeir Travel Agency stated, It is very important to create and sustain important collaborations throughout the industries spanned across our region. ADCB has proven time and again that innovation, hard work and excellent customer service and strategy will always step up the business into the future and help increase loyal customers.

Mr. Omeir added, Omeir Travel Agency too believes in the same principles. We believe that customers are the reason we exist for without them there is no future in business. Basing these principles as our backbones, we have ventured with ADCB on projects that can provide enhanced products and innovative quality customer services to the clients across both our industries. The relationship between both companies has grown over the years, fueling the need and will bring out more ventures to open up more opportunities for the customers.

About ADCB:
ADCB was formed in 1985 and as at 31 March 2013 employed over 3,000 people from 55 nationalities, serving over 480,000 retail customersandapproximately 38,000corporate and SME clients in 50 branches, 3 pay offices and 2 branches in India and 1 branch in Jersey. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 180 bn as at 31 March 2013.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives and Islamic products, project finance and property management services.

ADCB is owned 58.08% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Exchange. As at 31 March 2013, ADCB’s market capitalization was AED 23 bn.

For further details please contact

Corporate Communications
Majdi Abd El Muhdi
E: majdi.a@adcb.com