ADIB recognized as the Most Innovative Islamic Bank of 2022 by IFN

By Arya M Nair, Official Reporter
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Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has been recognized as the Most Innovative Islamic Bank of 2022 by Islamic Finance News (IFN) Magazine.

ADIB also won the Best Islamic Private Bank, the Egypt Deal of the Year, and the Best Islamic Bank for Treasury Management.

The IFN Awards is one of the most prestigious awards in the Islamic finance industry honoring institutions that have displayed leadership, innovation, and excellence in deal execution. Established in 2006, the IFN Awards have grown significantly since then as demand for Sharia-compliant products and services increased manifold around the world.

The winners are selected by a panel of independent experts who judge each transaction based on a set of predetermined criteria. The IFN’s Innovation Awards recognize the most innovative Islamic banks across the world for their digital banking initiatives, strategy, and overall commitment to digital transformation.

Nasser Al Awadhi
Nasser Al Awadhi
Group CEO – ADIB

“ADIB is immensely proud to receive these prestigious awards and to be recognized as the most innovative Islamic bank in the region. Leveraging our solid digital capabilities, we were able to continue our growth strategy by offering innovative and industry-leading solutions to our customers. We take pride in excelling at providing our customers with the very best service and presenting new growth opportunities. As we look ahead, we will continue to move forward with our innovation agenda and tap into growth opportunities and emerging technologies, all the while focusing on sustainability and ESG agenda.”

As an industry leader in digital innovation, ADIB launched several ground-breaking initiatives that tap on emerging technologies. Last year, the Bank rolled out a number of digital initiatives, including providing customers with convenient remote account opening services through a government-linked facial recognition system, the launch of ADIB Chat Banking, the UAE’s first Emirati customer care chatbot and ‘Amwali’, the world’s first Islamic digital proposition targeting youth between the age of 8 to 18.

Additionally, the bank also introduced new integrated digital kiosks, branded ‘Smart Tellers’ by ADIB, across key UAE branches and its first Application Programming Interface (API) developer portal, allowing fintech developers to use ADIB APIs to develop their own applications.

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