ADFG and Bahrain’s GFH to launch Islamic bank in Abu Dhabi | GulfNews.com:
"Abu Dhabi Financial Group (ADFG) and Bahrain’s GFH Financial Group are jointly setting up an Islamic bank in Abu Dhabi’s new financial free zone with initial capital of $100 million, ADFG’s chief executive told Reuters on Monday.
Privately-owned investment management firm ADFG and GFH have received preliminary approval to launch the bank at Abu Dhabi Global Market (ADGM), the second financial free zone in the United Arab Emirates after the Dubai International Financial Centre (DIFC).
It will be the first new bank set up at the recently-launched ADGM, which has so far attracted Aberdeen Asset Management and Macquarie Capital to open offices.
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