Further to our earlier communication highlighting the sale of the UAE retail banking business, kindly note that the transfer was successfully completed on 1 September 2014. This notification provides details on the impact of the sale on products and services related to investment and/or insurance.
Investments with overdraft facilities
For customers who have investments with overdraft facilities, investment(s) and overdraft account(s) will not be transferred to ADIB. Future service requests (including requests for product valuations or redemption) can be made through our call centre. Please note that there may be changes to our service levels, details of which can be acquired from the call centre. If you wish to transfer your investment(s) to another bank, kindly settle any outstanding balance under the overdraft facility.
Mutual funds, bonds and structured products held on an equity basis
For customers holding mutual funds, bonds and/or structured products on an equity basis only, please note that while your bank account(s) will be transferred to ADIB, your investment securities will remain under the custodianship of Barclays. If your bank account(s) has been closed or transferred, redemption proceeds, balance due to maturity or coupon, etc. will be settled in the form of a manager’s cheque/ demand draft issued in your name. If you wish to transfer your investment(s) to another bank, you may do so by providing Barclays with the following:
Letter addressed to Barclays requesting the transfer of your investment(s) to the relevant bank; and
Letter from you addressed to the relevant bank notifying them of the transfer of your invesment securities from Barclays
Please note that we will not be able to service any requests for new investments.
We may, from time to time at our discretion, enter into custodian or sub-custodian arrangements to facilitate the holding of client assets, including a custodian or sub-custodian incorporated in a foreign jurisdiction.
For further information please contact us on:
Products and services
Within the UAE
Outside the UAE
04 428 6000
+971 (0) 4 428 6000
Terms and conditions apply. Please read the offer documents carefully before investing. This document does not constitute an offer, invitation or solicitation to buy or sell securities. This document is not a personal recommendation and you should consider whether you can rely upon any opinion or statement contained in this document without seeking further advice tailored for your own circumstances. Not all products are suitable for all investors. Investors should have sufficient knowledge, experience and/or suitable professional legal, regulatory, tax, business and accounting advice to undertake their own assessment.