The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
Al Hilal Bank — a wholly-owned subsidiary of Abu Dhabi Commercial Bank (ADCB) — has completed the sale of Al Hilal Takaful, its Islamic insurance subsidiary, to Siraj Holding LLC.
In a statement by the bank on Tuesday, the divestment was driven by Al Hilal Bank’s strategic decision to focus on delivering high-quality retail banking services, primarily through digital channels.
Al Hilal Bank was acquired by ADCB in May 2019, following the merger between ADCB and Union National Bank.
Full integration of the three banks was completed in early April 2020, creating a fully unified, powerful and
resilient banking group.