Dubai, United Arab Emirates, June 01, 2022 – Gulf Islamic Investments (GII), a leading private equity, real estate and venture capital company based in the United Arab Emirates, has acquired 100% of Anglo-Gulf Trade Bank (AGTB) from Abu Dhabi’s sovereign wealth fund Mubadala in line with GII’s objective of providing the best financial services solution to its investors and clients.
AGTB is a Category 1 Digital Bank licensed by the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), the international finance centre in the capital of the United Arab Emirates and was established by Mubadala as the world’s first digitally-enabled trade bank. The consideration for the transaction is undisclosed.
Based in the innovation-friendly environment of ADGM, AGTB, was set up to address a growing gap in the trade finance market, which has become highly fragmented. As the first digital bank of the ADGM, it provides its customers with technology-enabled smart banking solution in a well-regulated ecosystem.