First Abu Dhabi Bank has confirmed that the QFC Regulatory Authority's claims in the QFC Courts are invalid and are categorically rejected by the Bank, which was issued in line with the decision of the UAE and other countries to sever diplomatic relations with Qatar.
In a statement, the bank stressed its commitment to conducting its business in accordance with the highest standards of professionalism and credibility and in accordance with the laws and regulations in force. To deal with the Authority to resolve this matter and provided all the information requested from him under the QFC decision describing any allegations that the Bank did not provide such information as false.
First Abu Dhabi Bank said it had informed the QFC Regulatory Authority on June 19, 2019 of its decision to give up its business license and close it permanently.
He added that the bank is currently in the process of completing the operations of the QFC branch in an orderly manner, following months of invalid measures taken by the QFC Regulatory Authority, which made it impossible to continue the bank's operations in Qatar.