ADIB signs Dh450m Islamic facility with Al Dhafra

By Hassan Jivraj
28 Jan 2014

Abu Dhabi Islamic Bank (ADIB) has signed Dh450m ($122.5m) Islamic financing facility with Al Dhafra Cooperative Society, a private equity firm that serves local communities in western Abu Dhabi.

Al Dhafra will use the Shariah-compliant financing to increase working capital and fund capital expenditure. The facility will aid Al Dhafra to implement projects to boost economic and social development, in line with the Abu Dhabi government’s western region 2030 strategy.

In 2010, Al Dhafra signed a ...

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