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Al Hilal Bank news

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Al Hilal Bank news and updates

Al Hilal Islamic Bank (or AlHilal Bank) news and updates, events, new branches, new service and product announcements related to Al Hilal Bank. Summaries of news articles and press releases.

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Archive 2007-2009

Al Hilal Bank Sowah Island Tower development manager (10 Aug 2009 press release)

Al Hilal Bank announced they have appointed John Buck International (JBI) as the development manager of the Al Hilal tower on Sowwah Island. Design process begins now and the building is scheduled for completion oin 2014. Tower location will be next to Sowwah Square and the Cleveland Abu Dhabi Clinic and Hospital.

Al Hilal Bank Sowwah Island commercial tower July 2009

Al Hilal Bank bought a plot of land (area 4,850 sq meters) on Sowah Island in Abu Dhabi's new Central Business District (CBD) from Mubadala Real Estate & Hospitality (a subsidiary of Mubadala Development Company and the Master Developer of Sowwah Island). Al Hilal Bank will develop a 24 storey commercial tower on the plot.

Al Hilal Bank Al Wataniya Development Fund launched - 29 June 2009 press release

Al Hilal Bank and Abu Dhabi Investment House have together launched the Al Wataniya Development Fund with $100 million (AED 367m) to invest in Abu Dhabi real estate projects.

Al Hilal Bank auto mall - 30 April 2009

The Al Hilal Bank Financial Mall on the Abu Dhabi Corniche has established a car shop where you can view a selection of automobiles, arrange finance and insurance, register your vehicle, and drive away, as long as you have all the necessary documents with you (bank statements, passport or other ID, although for car registration you need a residence visa which is in your passport). At least that's the theory according to the "Al Hilal Auto" press release with the tag line "Walk in and Drive Out". Mr Mohamed Zaqout, EVP and Head of Personal Banking said "With our unique customer centric model our team is assembled to ensure the formalities including a test drive, documentation, finance approval, takaful and vehicle registration can be completed within one hour."

Al Hilal first Islamic Bank to open in Kazakhstan and expansion plans - Reuters report 31 March 2009
RAK Hilal Bank opens - 14 March 2009

New Hilal Bank Ras Al Khaimah (RAK) branch opened (originally supposed to open by December 2008). Hilal Bank CEO, Mohamad Jamil Berro, said there would be 8 new Hilal Branches in 2009, according to WAM Emirates News Agency. Current branch count is eight: 3 in Abu Dhabi, 2 in Dubai, 1 in each of Sharjah, Al Ain, and RAK.

Hilal Bank and National Bonds - 11 February 2009

National Bonds are available at Hilal Bank branches in the UAE. A memorandum of understanding was signed by Mohammed Qasim Al Ali, CEO of National Bonds Corporation, and Mohamed Jamil Berro, CEO of Al Hilal Bank, in Abu Dhabi, to enhance the distribution network of National Bonds in the UAE.

Hilal Bank likely to be unprofitable in 2009 - 09 January 2009

The CEO of Al Hilal Bank, Mohammed Berro, was reported by Reuters as saying "We will be close to break-even, not reach profits in 2009," due to the recent downturn in the economic climate. Al Hilal Bank expect to continue to open 10 branches each year in the UAE until 2013 but overseas expansions and aquisitions are likely to be curtailed.

Three new Hilal Bank branches open - 30 November 2008

Hilal Bank press release announced the opening of three new Al Hilal Bank branches - Garhoud in Dubai, Hamdan St in Abu Dhabi, and Buhaira Corniche in Sharjah, but did not release contact information, location details, or opening hours.

Al Hilal Bank Visa cards - 20 November 2008

Al Hilal Bank now offers visa credit cards

Al Hilal Bank Best Customer Experience award - 21 October 2008 (press release)

Al Hilal Bank won the Best Customer Experience award at the Middle East Retail Banking Awards on 13 October 2008. The award was issued by the Institute for International Research Middle East (IIRME) for Al Hilal Bank's Financial Mall Branch in Abu Dhabi.

More Hilal Bank branches - August 2008

Initial reports were that another 10 Hilal Bank branches were expected to open in 2009, bringing the total up to 20, but in August 2008, the CEO, Mohammed Berro, said to the Gulf News: "Now we have only four branches, but by the end of 2008 this number will be ten or even eleven, and by the end of 2009 some 15 additional branches will open doors."

Al Hilal Islamic Bank inauguration - 16 June 2008 (WAM)

Al Hilal Islamic Bank will be inaugurated on Thursday 19 June 2008 under the patronage of General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Deputy Supreme Commander of the UAE Armed Forces.

Al Hilal Bank credit card processing 09 June 2008 (press release)

Network International announces that they will be handling the following services for Al Hilal Islamic Bank (Network International is a subsidiary of Emirates NBD bank in Dubai, and is a credit and debit card payment service provider in the UAE).

Al Hilal Bank to launch in June 2008 - 17 April 2008 (Gulf News)

Al Hilal Islamic Bank plans to launch operations in June 2008 with 4 branches in phase I, and another 6 branches by the end of 2008 in phase II. The CEO, Mohammad Jamil Dorrah, said to the Gulf News "In the first phase we will begin with four branches, two in the capital, one in Al Ain, and one in Dubai. This will be followed by the second phase, when we will add six more branches with a branch in each emirate by the end of the year and thereby increase the total to ten,"

Al Hilal Bank also plans to open a real estate division, and plans to expand throughout the GCC and the Middle East, according to the report.

Al Hilal Bank expansion plans 16 January 2008 (Reuters)

Reuters reported that Al Hilal Bank plans to start offering banking services in the UAE in June 2008, and later expand to other countries in the region. Reuters quoted the COO, Prasad Abraham, as saying "The bank wants first to get a foothold in the UAE and later expand into the regional GCC markets, and then the greater Arab world and North Africa". Initially the bank expects to open 4 branches in Abu Dhabi, Dubai and Sharjah.

In July 2007 the CEO said an IPO might be on the cards, but Reuters reported that "The owners have no immediatel plans to sell shares to the public ..."

Al Hilal Bank (Crescent Bank) IPO - 11 July 2007 (WAM)

WAM reported Isa Mohammed Al Suwaidi, the CEO of Crescent Bank (Al Hilal Islamic Bank), saying that 10-20% of the share capital may be sold to the private sector in an Initial Public Offering (IPO). No further details were given.

Al Hilal Bank new Islamic bank to be formed - 11 July 2007 (WAM)

His Highness Shaikh Khalifa bin Zayed Al Nahyan, President of the UAE, issued a decree to establish the new Al Hilal Islamic Bank, or Crescent Bank, in Abu Dhabi. The Crescent Bank will be a public joint stock company, 100% owned by the Abu Dhabi Investment Council (ADIC) with share capital of Dh4 billion divided into 4 billion shares of par value 1 dirham each.

Chairman of Al Hilal Bank will be Isa Mohammed Al Suwaidi. Board members will be Mohammed Hassan Omran, Abdullah Nasser Al Suwaidi, Yunus Haji Khoory, and Ahmed Sari Al Mazrouei.

Last update Friday 16-Mar-2012.
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