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FAB UAE & International Subsidiaries, Branches & Representative Offices

FAB operates a number of subsidiary companies, branches and representative offices both in the UAE and internationally, spanning jurisdictions in Europe, America, Africa, Middle East and Asia. These provide a range of client facing services.

All of the Group’s international subsidiary companies, branches and representative offices are required to comply with the FAB Group Corporate Governance Policy and with the applicable laws and regulations that apply in their jurisdiction. FAB UAE subsidiaries are locally regulated subsidiary companies of the Group. Each operates within the Group’s overarching corporate governance framework along with corporate governance arrangements suitable for their business with the Group’s oversight and control. FAB’s international subsidiaries have their constitution as locally incorporated entities in their jurisdiction.

International and local subsidiaries have their own Board of Directors and Board Committees where required by law or regulation and have ultimate reporting responsibilities to the Group. To assist, guide, direct and challenge senior management of these subsidiary companies, the Board of Directors consists of senior professionals with substantial banking, finance and risk experience.

During year 2021, the Board exercised adequate oversight over the Group while respecting the independent legal and governance responsibilities that apply to the individual entities. The Board received reports regarding its group structure through the Board Risk and Compliance Committee.

The Bank has, however, constituted the majority of its international presence through branches and representative offices, providing operations and services at a local level and supported by regional and Group management as appropriate. This includes significant operations in the U.K. and Egypt, as well as operations in Asia and several GCC countries. In 2021, the Bank continued to enhance the international governance model developed in 2019 that sets out for each location the International Banking Governance Framework (“IBGF”), including the senior management organisation structure, committees and decision-making forums and reporting lines. A network of regular reporting and oversight consolidated these governance IBGFs. This included regular reporting to and from Group level, with two-way dialogue along defined functional reporting lines; provision by the subsidiaries and branches of key performance indicators on governance matters, including reports on board and Committee meetings, reinforced by conference calls between the Group and each location to provide oversight and guidance; and support on emerging governance issues as necessary. The emphasis is on ensuring that each location has in place the appropriate governance mechanisms that meet local regulatory requirements and is consistent with the Group approach.

In addition to our local subsidiaries, our International subsidiaries are based in Switzerland, United States of America, Kingdom of Saudi Arabia, Egypt, Libya, India, Paris and the Cayman Islands.

Overview on our Local Subsidiaries

First Abu Dhabi Securities (“FAB Securities”) is a Sole Proprietorship Limited Liability brokerage subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the Securities and Commodities Authority (“SCA”) in the UAE. The subsidiary is managed by a Board of Directors and management committees. The Board of Directors is composed of (five) members. The Board has formed (one) Board Risk Committee. FAB Securities is one of the founding members of the UAE exchanges in both Abu Dhabi and Dubai. FAB Securities is a member of the UAE exchanges in both Abu Dhabi and Dubai specialised in providing innovative and comprehensive brokerage services across the UAE, as well as key regional and international markets. FAB Securities provides execution underpinned by the highest international trading and compliance standards.

First Abu Dhabi Islamic Subsidiary (“FAB Islamic”) is a Private Joint Stock subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws and regulations of the Central Bank of the UAE. The subsidiary is managed by a Board of Directors and management committees. The Board of Directors is composed of (five) members. FAB Islamic provides banking services and offers saving and current accounts, credit and debit cards, mortgage loans, wealth management, insurance, securities brokerage, merchant payments, foreign exchange, transfers, investments, and private banking services.

First Gulf Information Technology (“FGIT” is a Limited Liability subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the United Arab Emirates. The subsidiary is managed by a Board of Directors and management committees. The Board of Directors is composed of (five) members. FGIT provides services, management and operation of computer networks, information technology network services, computer infrastructure establishment, institution and maintenance, information technology consultancy, computer devices and equipment domain consultancy and computer engineering consultancy.

First Abu Dhabi Properties (“FAB Properties”) is a Sole Proprietorship Limited Liability subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. FAB Properties is managed by a Chief Executive Officer and an executive specialist team in real estate. It is a real estate service provider specialising in end-to-end property solutions. It manages both residential and commercial entities in key locations in the UAE. FAB Properties offers exceptionally high calibre services in professional real estate solutions and creates sustainable long-term value for the clients and for the landlords who hand over their properties for management.

Mismak Properties is a Sole Proprietorship Limited Liability subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. Mismak Properties is managed by a Chief Executive Officer and an executive specialist team in real estate. The objective of the subsidiary is to carry on the following activities within or outside the UAE: building maintenance; land and real estate purchase and sale; real estate enterprise investment, development; institution and management; real estate lease and management services.

First Merchant International (“FMI”) is a Limited Liability subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. First Merchant International is managed by a Chief Executive Officer and an executive specialist team in real estate. The objective of the subsidiary is to conduct the business of owning, managing and investing in the fixed and movable assets and funds of any commercial and investment activities inside or outside the UAE.

MAGNATI UAE is a Sole Proprietorship Limited Liability subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. Magnati is managed by a Chief Executive Officer. Magnati’s role is to strengthen the Group’s leadership position in the rapidly expanding payments sector and accelerating its digital transformation agenda. With the power of FAB’s expertise and infrastructure at the core, Magnati will attract regional and global partners, setting a new standard for innovation and delivery in the payments industry.

Moora is a Limited Liability Subsidiary of Mismak by 67% ownership, a subsidiary which is owned by First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. Moora is managed by a General Manager and an executive specialist team in real estate. The objective of the subsidiary is to own, manage and invest in real estate and buildings inside or outside the UAE.

FAB Employment Services is a Sole Proprietorship Limited Liability subsidiary of First Merchant International (FMI) a subsidiary which is owned by First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. FAB Employment Services is managed by a General Manager and an executive specialist team in Outsource Employment Services. The objective of the subsidiary is to carry on recruitment activities and on demand labour supply (temporary employment) inside and outside the UAE.

FAB Resourcing Service is a Sole Proprietorship Limited Liability subsidiary of First Merchant International (FMI) a subsidiary which is owned by First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. FAB Employment Services is managed by a General Manager and an executive specialist team in outsource employment services. The objective of the subsidiary is to carry on recruitment activities and on demand labour supply (temporary employment) inside and outside the UAE.

Abu Dhabi National Leasing is a Limited Liability Subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. The Company is managed by a General Manager. The objective of the Company is to own, lease, manage and give for lease and sell fixed and movable assets of all types and forms.

Abu Dhabi National Properties is a Limited Liability Subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. The Company is managed by a Chief Executive Officer and an executive specialist team in real estate. The objective of the subsidiary is to carry out real estate projects marketing and sales services, economic feasibility studies of real estate projects, leasing, management and maintenance of properties, contribution in capital of existing real estate projects or those under construction, brokerage in sales and purchases.

NBAD Employee Share Options is a Limited Liability Subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the Jebel Ali Free Zone (“Jafza”) . The Company is managed by a Director. The objective of the subsidiary is to hold shares and investments within the UAE and abroad, general trading and to carry any lawful activity permitted by the Jebel Ali Free Zone offshore Companies Regulation 2003.

Nawat Management Services Sole Proprietorship is a Limited Liability subsidiary of First Abu Dhabi Bank PJSC incorporated under the laws of the UAE. The License of this subsidiary is Dormant.

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First Abu Dhabi Bank

First Abu Dhabi Bank P.J.S.C

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