Gulf Islamic Investments (GII), a leading UAE private equity, real estate and venture capital firm, has acquired 100% of Anglo-Gulf Trade Bank (AGTB) from Abu Dhabi’s sovereign wealth fund Mubadala. The consideration for the transaction was undisclosed.
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 UAE and was established by Mubadala as the world’s first digitally-enabled trade bank.
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.-- TradeArabia News Service
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