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An ADIB branch in Al Muhaisnah, Dubai. For illustrative purposes only. Image Credit: Courtesy: ADIB

Dubai: Abu Dhabi Islamic Bank said on Monday its UK operations would halt several of its banking services as the branch looks to focus squarely on commercial real estate financing.

ADIB (UK) Ltd board has approved a decision to start the process of changing the business to a “non-regulated branch” of ADIB Group, the lender said in a statement.

“According to the decision, ADIB will maintain its presence in the UK, with the focus on developing the successful commercial real estate financing but will refrain from providing regulated services to customers,” it said, which includes account services, savings, deposits and safe deposit boxes.

The lender said the decision came following a rigorous evaluation process that took into consideration the high demand for commercial real estate financing in the United Kingdom.

ADIB has built a strong full-service property financing solution to support clients’ investment strategies in commercial real estate in the UK in compliance with Islamic Shari’a principles, ADIB said.