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ADCorp Concludes Fundraising of Over $100 Million in Capital, Deploying Significant Portion

Abu Dhabi Financial Group LLC (" ADFG"), a leading global investment group, introduced that ADCorp Ltd (" ADCorp"), the first Islamic banks based in the Abu Dhabi Global Market (ADGM), has concluded its fundraising and released a substantial part of its overall resources of over US$ 100 million. The funds are being deployed in order to fund business with solid business strategies and outstanding potential for growth.

ADCorp offers inventive and functional monetary solutions covering Sharia-compliant company financing, riches and property monitoring. Investors consist of strategic corporates, family members offices and high net worth people.

Commenting the capital deployment, Jassim Alseddiqi, CEO of ADFG and Executive Chairman of ADCorp, stated, "As access to financing has ended up being significantly limited in recent times, we recognized a chance to develop a preeminent, Abu Dhabi-based, Sharia-compliant banks that might utilize ADFG's track record, track record and network. ADCorp is satisfying this vision by serving a specialized market of companies that require financing in order to further expand their businesses. We are incredibly pleased with our strong and energetic resources base and expect ADCorp to attain earnings over the following twelve months and to also disperse dividends to our shareholders."

Mustafa Kheriba, Senior Executive Officer of ADCorp, added, "ADCorp is well positioned to further build on the attractive returns we have actually accomplished since the organization's beginning. We have a healthy pipeline of deals and a solid group of certified professionals with substantial experience in the Islamic money market. We are delighted with our close affiliation to some of the region's most trustworthy financial institutions, such as GFH Financial Group, and are grateful for the significant value they add through their experience and wide network."

ADCorp is primarily focused on giving financing to business that require financing at attractive rates and in accordance with Sharia principles. Furthermore, ADCorp has the capacity to receive US Dollars from clients through a "Wakala" - a Sharia-compliant arrangement.

ADGM's Financial Service Regulatory Authority (FSRA) given ADCorp its banking permit in July 2017, enabling the establishment to run as a Category 5 Islamic financial institution.

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