Al Hilal Bank

Al Hilal Bank (Arabic: مصرف الهلال), Established in 2007, Al Hilal Bank was a Islamic bannk headquartered in Abu Dhabi (UAE) offering Shari’ah compliant Retail Banking, Treasury and Wealth Management.

al hilal bank
IndustryBanking
FoundedJune 19, 2008 as al hilal bank[1]
Headquarters
Abu Dhabi, UAE
Key people
Mr. Abdul Shakeel Aidroos CEO
Websitealhilalbank.ae

Al Hilal Bank was acquired by ADCB Group. Al Hilal Bank retains its existing name and brand and operate as a separate Islamic banking entity within the group.

With issued capital of AED 4 billion and paid up capital of AED 3.5 billion, the Bank had credit ratings of A+ and A2 by Fitch and Moody’s respectively. The Bank has 14 retail branches across the UAE and 3 branches in Kazakhstan through which they offer digital-based services, enhancing the Bank’s performance-driven culture.

Al Hilal Group

Al Hilal Group comprises three adjunct Al Hilal Bank units:

Al Hilal Takaful

Al Hilal Takaful provides "Takaful" Islamic insurance products covering the Property, Liability, Engineering, Marine, Aviation, Special Lines, Motor, Medical and Credit Insurance.

Takaful or Islamic insurance adopts a cooperative principle and separates between the funds and operations of shareholders. Premiums collected from policyholders are considered donations and constitute the Takaful fund from which all claims are reimbursed. At the end of each financial year, after deduction of expenses, any remaining cash surplus are not retained by the company or its shareholders, but returned to the policyholders in the form of cash dividends or distributions.

Al Hilal Kazakhstan

Al Hilal Kazakhstan is the first Islamic bank in the Republic of Kazakhstan and Al Hilal's first branch outside of the UAE with Head Office in Almaty. The two other branches operate in the cities of Shymkent and Astana.

Mall branch is closed.

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See also
  • List of banks
  • List of banks in United Arab Emirates

References
  1. alhilalbank.ae
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