Abu Dhabi’s Mubadala sells trade finance focussed digital bank AGTB to Gulf Islamic Investments

Dubai: The Dubai-headquartered Gulf Islamic Investments is buying a digital bank – Anglo-Gulf Trade Bank (AGTB) – from Abu Dhabi wealth fund Mubadala. Anglo-Gulf Trade Bank, a Category 1 digital bank licensed by Abu Dhabi Global Market, specialises in trade finance.

“AGTB was set up to address a growing gap in the trade finance market, which has become highly fragmented,” a statement issued by GII said. “As the first digital bank of the ADGM, it provides its customers with technology-enabled smart banking solution in a well-regulated ecosystem.”