Abu Dhabi - Mubasher: Abu Dhabi Financial Group (ADFG) on Monday announced that ADCorp, an Islamic financial institution based in the Abu Dhabi Global Market (ADGM), has completed the fundraising of over $100 million capital.
ADFG also stated that it had allocated a big portion of the raised capital to finance companies with feasible business plans and potential for growth, according to a company statement.
“As access to financing has become increasingly limited in recent years, we recognized an opportunity to create a preeminent, Abu Dhabi-based, a Sharia-compliant financial institution that could leverage ADFG’s reputation, track record, and network,” said ADFG CEO Jassim Alseddiqi.
"ADCorp is well positioned to further build on the attractive returns we have achieved since the institution’s inception,” Mustafa Kheriba, ADCorp’s senior executive officer, commented.
