Al Hilal Bank

Key details

• Launch: 2023

Overview

Al Hilal Bank is UAE Islamic commercial bank + Abu Dhabi Commercial Bank ADCB ADX: ADCB UAE parent ~100%+ controlling post-May 1 2019 consolidation + relaunched 2023 as UAE digital-first Islamic commercial bank + founded Jun 18 2008 in Abu Dhabi UAE by Abu Dhabi Investment Council ADIC then 2019 ADCB acquisition + 2023 digital-first relaunch [1, ae-cro].

History

Jun 18 2008 — Al Hilal Bank PJSC founded in Abu Dhabi UAE by Abu Dhabi Investment Council ADIC UAE Abu Dhabi government sovereign wealth fund as Abu Dhabi government-aligned Islamic commercial bank.

May 1 2019 — Abu Dhabi Commercial Bank ADCB consolidates Al Hilal Bank as part of ADCB + Union National Bank UNB + Al Hilal Bank ~$13.7B three-way merger consolidating into Abu Dhabi Investment Council ADIC banking holding distinctive UAE Islamic banking consolidation.

2023 — Al Hilal Bank digital-first relaunch as UAE digital-first Islamic commercial bank distinctive UAE Islamic banking modernisation.

Ownership & operator

Operating entity: Al Hilal Bank PJSC (UAE Islamic commercial bank).

Major shareholders: Abu Dhabi Commercial Bank ADCB (ADX: ADCB; UAE parent) ~100%+ controlling post-May 1 2019 consolidation.

Regulators: Central Bank of UAE CBUAE.

Technical integration

Al Hilal Mobile app (iOS + Android) + alhilalbank.ae online + Al Hilal Bank digital-first retail Islamic commercial banking + limited UAE branch network + Al Hilal Visa + Mastercard cards (Islamic-compliant); EMVCo QRCPS QR payments + Aani UAE national instant payments + AED Emirati Dirham domestic transfers.

Implementations & partners

Parent group: [[adcb-uae]] (Abu Dhabi Commercial Bank ADCB; ADX: ADCB; UAE commercial bank; one of UAE's largest commercial banks by assets).

Major UAE banking + payments competitors: [[fab]] (First Abu Dhabi Bank FAB; ADX: FAB) + [[emirates-nbd]] (Emirates NBD Bank; DFM: EMIRATESNBD) + [[mashreq-neo]] (Mashreq Bank; DFM: MASB) + [[dubai-islamic-bank]] (Dubai Islamic Bank DIB; DFM: DIB; UAE's largest Islamic commercial bank by assets + world's first Islamic commercial bank) + [[abu-dhabi-islamic-bank]] (Abu Dhabi Islamic Bank ADIB; ADX: ADIB) + [[emirates-islamic]] (Emirates Islamic Bank EI; DFM: EIB) + [[sharjah-islamic]] (Sharjah Islamic Bank SIB; ADX: SIB) + [[ajman-bank]] (Ajman Bank; DFM: AJMANBANK).

Regulators: Central Bank of UAE CBUAE.

Status

Active, UAE Islamic commercial bank + Abu Dhabi Commercial Bank ADCB ADX:ADCB UAE parent ~100%+ controlling post-May 1 2019 consolidation + relaunched 2023 as UAE digital-first Islamic commercial bank + founded Jun 18 2008 in Abu Dhabi UAE by Abu Dhabi Investment Council ADIC then 2019 ADCB acquisition + 2023 digital-first relaunch [1, 2].

Sources

• 1 Al Hilal — official
• 2 Al Hilal — Wikipedia
• ae-cro In-corpus: reports/countries/AE-united-arab-emirates.md

Source

Biography extracted from al-hilal-bank.md. See matrix.md for standards-support matrix if present.