Bank al Etihad has signed a memorandum of understanding with Ethmar International Holding, an Abu Dhabi-based investment holding group, and other UAE-based investors to establish a new bank in Abu Dhabi Global Market, the company said. The agreement marks the Jordanian bank's entry into the United Arab Emirates market.
The new bank is to operate under a Category 1 banking licence in ADGM. Bank al Etihad said it would serve regional and international clients and companies doing business in markets outside the UAE mainland, and would be used to handle cross-border business, support transactions in its target markets and build relationships with corporate, institutional and high-net-worth clients.
The proposed bank would work within ADGM's regulatory framework and under the supervision of the Financial Services Regulatory Authority, in compliance with regulatory requirements in force in both the United Arab Emirates and Jordan. The plan is subject to obtaining all necessary official approvals.
Bank al Etihad said the initiative forms part of a wider growth strategy and draws on more than five decades of banking experience. It extends the group's footprint beyond Jordan and Iraq.
The bank has served customers since 1987, and the group's expansion has included a 2017 controlling stake in Safwa Islamic Bank, entry into Iraq in 2024, a 2025 merger with INVESTBANK and the acquisition of Egyptian Arab Land Bank's Jordan operations. It reported close to JOD 11 billion in total assets and about JOD 1 billion in total equity. Ethmar describes itself as an investment holding company that builds and invests in businesses, platforms and partnerships across sectors and develops partnerships connecting regional opportunities with wider international markets.