ADIB finances DAFZA's expansion with Dhs500m
- United Arab Emirates: Wednesday, March 06 - 2013 at 14:41
- PRESS RELEASE
Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic Finance institution, announced that it had signed an agreement to provide financing facilities for Dhs500m to Dubai Airport Freezone (DAFZA).
The agreement was signed at DAFZA's headquarters by Dr. Mohammed Al Zarooni, Director General of DAFZA and Tirad- Al Mahmoud, CEO of ADIB.
Commenting on the partnership, Tirad Al-Mahmoud said: "The Dubai Airport Freezone has made significant efforts in promoting Dubai and the UAE to the international business communities, we are pleased to provide them with customized Islamic financial solutions that will help them achieve their expansion objectives. This transaction reaffirms our commitment to the growth and development of the UAE and it confirms our world-class Corporate Finance and Investment Banking capabilities."
"We are delighted to finance our expansion projects in an Islamic way which is in line with our commitment to support HH Sheikh Mohammed Bin Rashed Al Maktoum initiative to make Dubai the Global Capital of Islamic economy. The financial facility provided by ADIB would contribute to the implementation of a number of important projects that play an effective role in providing excellent service to our tenants," commented Dr. Al Zarooni.
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