1st Branch in United Arab Emirates
Bank of Khartoum announces its 1st branch in United Arab Emirates.
With long history of great achievements, Bank of Khartoum has announced a marking of another successful milestone in being granted an approval from the Central Bank of the United Arab Emirates to open a branch in Abu Dhabi – UAE, in line with the principles of Islamic Sharia law.
Bank of Khartoum, largest and the most prestigious financial and banking institution in Sudan promises success in the UAE. In 2015,the bank achieved 24.15% return on equity, 3.31% return on assets with a balance sheet asset size of an equivalent of US $1.9 billion. Moreover, the bank achieved a (AA-) rating for its fifth consecutive year by Islamic International Rating Agency (IIRA) and considered the only bank that has been de-listed from OFAC SDN list since April 2011.
Bank of Khartoum’s shareholders are leading regional Islamic and financial institutions lead by Dubai Islamic Bank, Islamic Development Bank Jeddah, Abu Dhabi Islamic Bank along with many other
prominent Sudanese and Regional businessmen. The bank has pioneered and contributed to the development of many Islamic products and banking services. The most significant initiative of the
bank had been the establishment of IRADA Islamic Microfinance institution in partnership with Islamic Development Bank Jeddah.
The approval of the Central Bank of the United Arab Emirates, CEO of Bank of Khartoum illustrated is a key milestone for the bank’s strategy in itself and an external presence outside Sudan. He further explained that the branch will provide a bouquet of Islamic products and services to Retail and Commercial customers.Back to News