Abu Dhabi Islamic Bank (ADIB) has said it will strengthen its presence in Iraqi market by launching "ADIB Direct", a digital platform that meets the growing business demands in Iraq.
ADIB Direct is an intuitive digital banking platform that integrates a suite of corporate banking solutions into a single, streamlined interface. The platform offers cash management solutions, cashflow forecasting, and foreign exchange services.
Abdullah Al Shehhi, Head of International Banking Group at ADIB said:
"At ADIB, we believe we play an important role in supporting Iraq's local economy by providing businesses the banking services they need to help them thrive and achieve their financial goals. Through ADIB Direct, we enable companies to efficiently manage their cash payments, liquidity, trade finance, supply chain and foreign exchange needs so they have more time to focus on their business."
Since its launch in 2019 in UAE, ADIB Direct has helped automate a variety of services for companies, providing them with significant cost and time saving efficiencies. Currently, over 90% of ADIB UAE's online corporate banking services are fulfilled digitally through the platform.
ADIB is the first UAE bank to have a presence in Iraq in 2012. The bank offers a full range of Shari'a compliant corporate banking products and services. With branches across Baghdad, Erbil, and Basra, ADIB's broad banking expertise covers government and public sector entities, and a diversified private sector base of financial institutions, trading, contracting, oil & gas, power & energy, manufacturing, and other industries.