First Abu Dhabi Bank (FAB) has signed an agreement to sell its FAB Sudan business to Africa and Gulf Bank (AGB). AGB has been recently awarded a banking license by the Central Bank of Sudan. The sale includes the transfer of all the assets, liabilities and employees of FAB Sudan and follows a strategic review of business activities at a Group level. The transaction will be completed over the coming months as both parties work together to ensure a seamless transition for clients, employees and stakeholders. This transaction does not impact FAB’s commitment to any of the bank’s other businesses or locations.
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