Al Hilal Bank is unrelated to Al Hilal Exchange

Press release
Published May 12th, 2013 - 05:58 GMT

Al Hilal Bank
Al Hilal Bank

Al Hilal Bank, a progressive Islamic bank based in Abu Dhabi, is clarifying that it has no connections at all with Al Hilal Exchange, a money transfer and currency exchange service provider which recently had its licensed revoked by the UAE Central bank.

Al Hilal Bank would like to inform its customers, partners, stakeholders and the general public that it is not involved with any of Al Hilal Exchange’s operations and that the similarity of their corporate names is merely coincidental. Al Hilal Bank is a separate and independent entity.

Background Information

Al Hilal Bank

Al Hilal Bank is owned in full by the Abu Dhabi Investment Council, which is the investment authority of the Government of Abu Dhabi. The bank is working with an authorized capital of 4 billion Dirhams, and is authorized to operate as an Islamic trading bank. Al Hilal Bank aims to become the leading financial institution in the region and to increase the growth of Islamic banking with a new direction, towards new technologies and special services.

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