Monday 29, August 2016

Abu Dhabi – MENA Herald: Abu Dhabi Islamic Bank (ADIB) has signed an agreement to become the official banking partner for IMG Worlds of Adventure, the world’s largest indoor theme park. The park, owned by the Ilyas & Mustafa Galadari Group, will open in Dubai on 31 August 2016.

ADIB will be the official banking partner to IMG Worlds of Adventure and will be able to offer ADIB cardholders and retail banking customers special promotions and services for the park. Initially, there will be six ATMs installed and point of sale (POS) merchant machines for card transactions facilitated throughout the theme park. Furthermore, ADIB will have an activation kiosk where the bank will engage with visitors and organise entertainment activities, enhancing the guest experience. ADIB cardholders will also be able to benefit from a special package on tickets until 31 December 2016 and a 0% Easy Payment Plan for the annual tickets packages once launched.

Tirad Al Mahmoud, CEO of ADIB said: “Our partnership with IMG Worlds of Adventure reflects our faith in the future of the tourism sector in the UAE and the pivotal role the entertainment industry plays in its economic growth. ADIB has a long term commitment to the UAE’s vision of becoming a leisure and entertainment destination.”

IMG Worlds of Adventure, which is set to open on August 31 2016, will be the world’s largest indoor themed entertainment destination. The park is built around four unique worlds: Cartoon Network and Marvel, as well as the Ilyas & Mustafa Galadari Group’s original concept the Lost Valley-Dinosaur Adventure, and all linked together by IMG Boulevard. The park will have 25 original retail concept stores and 28 food and beverage outlets.

Lennard Otto, Chief Executive Officer, IMG Worlds of Adventure, commented: “We welcome ADIB on board as our long-term financial partners. We have placed significant emphasis on providing our customers with a wide range of financial services throughout the theme park, ensuring full connectivity through both cash and point of sale machines located at strategic locations. These facilities compliment the dozens of rides, attractions, food and beverage that will be available as of the 31 August. We look forward to opening our doors to the world’s largest indoor theme park.”

In 2014, ADIB arranged and successfully closed an AED 1.9 billion Syndicated Islamic Facility for IMG Worlds of Adventure. ADIB acted as the Mandated Lead Arranger, Investment Agent, Security Agent and Account Bank for the facility.

Arif Usmani, Global Head of Wholesale Banking Group, ADIB said: “This deal was a testament to ADIB’s corporate finance capabilities in providing tailor made financing solutions in partnership with other institutions. We are very glad that IMG Worlds of Adventure is opening its gates on August 31st and we wish them on-going success.”

Mohamed Adnaan, Group Chief Financial Officer, IMG Worlds of Adventure, added: “We are pleased to have ADIB on board as our official banking partner. They have accompanied us throughout our journey, from providing us with critical financial advice to arranging a considerable part of our funding requirements. Their partnership is a key element to our success and we continue to count on their innovative products and services to power our customers and us over the long-term.”

ADIB is a leading financial institution in the UAE with one of the largest retail distribution networks with 88 branches and more than 770 ATMs and CDMs. As of 31 June, 2016, ADIB had AED 120 billion in assets and more than 900,000 customers. The bank is heavily investing in its digital infrastructure offering its customers innovative digital banking services and solutions to enhance their banking experience.