Abu Dhabi Islamic Bank, the second-largest Islamic lender in the United Arab Emirates (UAE), opened its first branch in London's swanky Knightsbridge on Wednesday, targeting wealthy Gulf clients in Britain.
The President of the UAE Sheikh Khalifa Bin Zayed Al Nahyan joined Prince Andrew, The Duke of York, to open the office at One Hyde Park, the 1 billion pound luxury Candy and Candy development located near the Harrods department store.
Trad Al Mahmoud, chief executive of ADIB Group, said the bank was hoping to attract clients from the UAE who use London as their base for business and personal transactions and who desire Islamic finance services, based on principles such as a ban on interest and pure monetary speculation.
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