National Bank of Abu Dhabi Advising Kuwait on Failaka Island - Bloomberg

National Bank of Abu Dhabi PJSC (NBAD), the United Arab Emirates’ second-biggest bank, is part of a group advising Kuwait on the development of Failaka island.

Other members include Pinsent Masons, WSP Environmental and EC Harris Consultancy, Nicholas Gilani, co-head of investment banking at the Abu Dhabi lender, said today in an interview.

Kuwait signed a 2.1 million dinar ($7.7 million) agreement with a group led by the Abu Dhabi bank to conduct technical and feasibility studies over 27 months for the development of Failaka Island, state-run news agency Kuna reported on Aug. 18. The planned transformation of the island into an international tourist destination may cost as much as 500 million dinars, Kuna said, citing Adel al-Roumi, head of Kuwait’s Partnerships Technical Bureau.

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