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ADCB Meethaq to Offer Shariah-compliant Product

15 June 2009

ABU DHABI - ADCB Meethaq, the Islamic Banking Department of the Abu Dhabi Commercial Bank, or ADCB, has launched the first of its kind Yaqeen Personal Finance, under the concept of Bai Al Salam, which offers customers cash finance in a fully Shariah compliant way.

Bai Al Salam is a sale contract where the bank’s customer (seller) undertakes to supply some specific goods to the Abu Dhabi Commercial Islamic Finance Company, or ADCIF, which is financier/ buyer at a future date, in exchange for an advance price fully paid at spot.

ADCB Meethaq has positioned itself around responsible banking through transparent Shariah compliance and solid values

·         haseebhaider@khaleejtimes.com


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