NBAD targets Dh3.2b in Islamic disbursals

National Bank of Abu Dhabi (NBAD), the emirate's largest bank by market capitalisation reckons total disbursals through the Islamic Finance channel will reach Dh3.2 billion by the end of 2009.

Disbursals this year alone expected to touch Dh1 billion, a senior executive of the bank's Islamic finance and banking arm said yesterday.

"Our total disbursals through Islamic finance amounted to Dh2.2 billion last year. Lendings were mainly to real estate, energy and industrial sectors," Arif Esmail Al Khouri, general manager of Abu Dhabi National Islamic Finance (ADNIF), told reporters at the official launch of the bank's Islamic finance arm in Abu Dhabi.