UAE’s leading Islamic financial institution, Abu Dhabi Islamic Bank (ADIB) has been named the safest bank for 2022 by the New York-based trade publication Global Finance Magazine.
ADIB was recognized at the awards ceremony held in conjunction with the 2022 annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).
According to the statement, ADIB ranked first in the category of ‘Safest Islamic Bank 2022’ and sixth Safest Bank among conventional and Islamic in the Middle East.
The bank said that the recognition highlights its robust financial position, prudent risk management, advanced cybersecurity systems, and its record of delivering innovative and safe Shari’a-compliant products to its customers.
“Global Finance’s annual rankings of the World’s Safest Banks have been the recognized and trusted standard of financial counterparty safety for more than three decades. Banks were selected through an evaluation of long-term foreign currency ratings—from Moody’s, Standard & Poor’s, and Fitch—and total assets of the 1000 largest banks worldwide,” as per the statement.
Nasser Al Awadhi Group CEO – ADIB
“We are immensely proud to receive this prestigious recognition and to be ranked ‘the safest Islamic bank’ in. This accolade is a testament to our commitment to providing safe and secure banking experiences with innovative and industry-leading solutions. It reflects the resilience of our franchise, underpinned by a solid capital base, healthy business momentum, and long-standing customer support.”
“Bolstered by government support through recent years of turmoil, the world’s financial institutions have largely held their strength, standing as beacons of stability in a world of unprecedented change,” said Mr. Joseph Giarraputo, Founder, and Editorial Director of Global Finance.
