Abu Dhabi Islamic Bank (ADIB) is a leading Islamic financial institution based in the United Arab Emirates, offering a comprehensive range of banking services in compliance with Shari’a principles. Below is detailed information about ADIB, covering its corporate and personal banking offerings, account types, requirements, and procedures.
ADIB Bank Financial Services & Online Banking
- Corporate banking,
- Business banking,
- Retail banking,
- Trade finance,
- Treasury,
- Cash management,
- Islamic banking
e-ADIB Internet Banking: Access banking services, including domestic transfers and account management.
ADIB Mobile App: features like cardless cash withdrawal and transaction alerts .
Corporate Account Types and Minimum Required Balance
- Business One: Minimum balance of AED 5,000/month
- Business Premium: Minimum balance of AED 250,000/month
- Business Elite: Minimum balance of AED 750,000/month
Currencies: AED (UAE Dirham); USD (US Dollar); GBP (British Pound), EUR (Euro)
Language: Arabic, English
Cards: VISA
Documents Required to Open Corporate Account
- Trade License: Valid commercial license issued by the UAE government.
- Memorandum of Association (MoA): Document outlining the company’s objectives and structure.
- Passport Copies: For all partners and authorized signatories.
- Emirates ID Copies: For all partners and authorized signatories.
- Visa Copies: For expatriate partners and authorized signatories.
- Office Tenancy Contract (Ejari): Proof of physical office space in the UAE.
- Share Certificate: Document indicating the ownership structure of the company.
- Parent Company’s Legal Documents: If applicable, documents from the parent company.
- Bank Statements: Last 6 months of bank statements (personal and/or company).
- Utility Bills: Proof of address for the company and authorized signatories.
- VAT Certificate: Proof of VAT registration (if applicable).
- Business Plan: Overview of the company’s business model and objectives.
- Client List: List of existing or prospective clients (suppliers/buyers).
- Invoices: Debit and credit invoices, shipping documents, customs clearance documents.
Corporate Account Opening Procedure
- Select Account Type: Determine the most suitable account type based on your business needs.
- Gather Documents: Collect all required documents as listed above.
- Submit Application: Submit the completed application form along with the required documents to ADIB.
- Verification Process: ADIB will review and verify the submitted documents.
- Account Approval: Upon successful verification, your corporate account will be approved and activated.
- Access Banking Services: You will receive your debit card, cheque book, and access to ADIB’s online banking services.
Approximate time frame to open corporate account: 2-3 weeks
Personal Account Types and Eligibility
- Current: Minimum salary of AED 5,000
- ADIB Gold: Minimum Total Deposits and/or Investments with ADIB – AED 250,000 or Minimum Monthly Salary Transfer to ADIB – AED 40,000 or ADIB Home Finance of AED 1,250,000 or
- ADIB Diamond: Minimum Total Deposits and/or Investments with ADIB – AED 750,000 or Minimum Monthly Salary Transfer to ADIB – AED 80,000 or ADIB Home Finance of AED 4,000,000 or more
