• First Abu Dhabi bank to become Emcredit member

• Bank to utilise reports on creditworthiness and full credit payment history of financed customers

• Company credit information reports to support bank’s financing to individuals and SMEs

• Underlines strength of risk management practices in Islamic banking

Pictured from left to right: Samih Awadhalla, Senior Vice President, Head of Branches, Retail Banking, ADIB ,Mahdi Kilani, Senior Vice President, Head of Business Banking, ADIB ,Sarvesh Sarup, General Manager, Retail Banking Group, ADIB ,Ali Ibrahim, Managing Director, Emcredit ,Zaid Kamhawi, Chief Business Officer, Emcredit ,Talal Nasralla, Business Development Manager - Financial Services, Emcredit

Emcredit, the UAE’s first government-backed credit bureau, announced today that it has signed an agreement with the Abu Dhabi Islamic Bank (ADIB), to provide credit information services in supporting the bank’s financing activities. ADIB is the first Abu Dhabi bank to become a full member of Emcredit, and among the leading Islamic banks in the country to invest in enhancing its risk management practices.

Under the terms of the agreement, ADIB will provide payment and repayment records of its customers to Emcredit’s data pool. In turn, ADIB will benefit from Emcredit’s comprehensive credit information reporting and risk assessment services, which are based on data compiled from a range of public and proprietary sources.

“It is encouraging to see that leading Islamic banks in the UAE banking industry are setting a fine example by making risk management a strategic priority,” said Ali Ibrahim, Managing Director, Emcredit. “The global financial crisis has brought many issues to the forefront, of which, understanding customers’ repayment behaviour is crucial. As a dynamic bank, blending modern vision with traditional principles of Sharia, ADIB will be able to make more informed decisions based on Emcredit’s in-depth credit information services.

“Credit bureaus are based on the concept of collaboration. ADIB has taken the lead in Abu Dhabi to support the data sharing environment in the UAE. Such proactivity is required in the country, especially in the current economic scenario, to help banks protect themselves against unnecessary credit risks.”

Tirad Mahmoud, CEO of ADIB, said: “As the leading Islamic bank with a large and diverse customer base, we greatly understand and believe in the role of credit bureaus, and are pleased to become a member of Emcredit. Although Islamic banks are generally risk-averse, it is also important to continuously invest in modern systems and tools to strengthen our risk policies in line with the evolving banking landscape. This is important in working towards our goal of becoming a dominant global player in the Islamic finance sphere.”

Established in May 1997, ADIB provides a wide range of Islamic financial products for individuals and corporations.

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About Emcredit:

Emcredit is the UAE’s pioneer information services company. It provides a range of comprehensive, accurate and timely information solutions such as credit bureau services, cheque-honouring reports, business background reports and other risk assessment tools. Emcredit’s decision support tools enable private and public entities to gain greater perspective into the risk profiles of individuals and companies, thereby empowering them to make more informed business decisions.

The company has a rich database on individuals and companies in the UAE, including 5.6 million consumer identification records, payment behaviour information on consumer and commercial borrowers and 35 per cent of mortgage data in the UAE. It has established data-sharing agreements with several government departments, to power its information solutions. These government entities include Dubai e-Government, Dubai Police, Department of Economic Development (DED), Dubai Land Department and its subsidiary, the Real Estate Regulatory Authority.

Emcredit is registered as a private entity and is based in the Dubai International Financial Centre (DIFC), which is regulated by the Dubai Financial Services Authority (DFSA). Emcredit operates in line with the DIFC’s Data Protection Law.

Emcredit was incorporated in January 2006 under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai. It is a fully owned subsidiary of the Department of Economic Development (DED), Government of Dubai.

For further information, please contact:

Sudha Hemmad / Nicholas Nesson

ASDA’A Burson-Marsteller

Tel: (971 4) 3344550

Fax: (971 4) 3344556

Email: s.hemmad@asdaa.com / n.nesson@asdaa.com

About ADIB:

Abu Dhabi Islamic Bank (ADIB) was established on 20th May 1997 as a Public Joint Stock Company following the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by His Highness Sheikh Abdullah Bin Zayed Al Nahyan, on 18th April 1999. The Bank carries out all contracts, operations and transactions in accordance with Islamic Shari’a principles. ADIB’s mission is to offer financial solutions for the global community, and its vision is to become a top tier Islamic financial services group.

ADIB prides itself on its values which reflect the Bank’s commitment to the Islamic Shari’a, and the guidelines of the Bank’s practices adhere to the principles of Islam.

www.adib.ae

For media information, please contact:

Grace Ghunaim ElHussein Mohammad Al-Qassem

VP- Head of Corporate Communications Senior Account Executive

Abu Dhabi Islamic Bank Weber Shandwick - MENA

Tel: +971 2 6100860 Tel: +971 4 3210077 Ext. 1254

Mobile: +971 50 616 4191 Mobile: +971 50 288 9 601

Email: g.ghunaim@adib.ae Email:mohammad.alqassem@ws-mena.com