ABK-UAE Secures ADREC Licence for Real Estate Escrow in Abu Dhabi

May 6, 2026

77 min

May 6, 2026 03:30

ABK-UAE becomes first Kuwaiti and GCC bank to obtain ADREC licence for real estate escrow agent in Abu Dhabi

## ABK-UAE Achieves Milestone in Real Estate Sector

Al Ahli Bank of Kuwait – United Arab Emirates (ABK-UAE) has become the first bank from Kuwait and the GCC to receive a licence from the Abu Dhabi Real Estate Centre (ADREC) to act as an escrow account agent in Abu Dhabi. This significant achievement aligns with the Abu Dhabi Government's vision to create a secure investment environment.

## Enhancing Real Estate Transactions

The licence allows ABK-UAE to offer escrow services, enabling real estate developers to collect payments from buyers of off-plan units and deposit them into regulated accounts. This process helps protect the interests of all parties involved and boosts investor confidence in the real estate market.

## Commitment to UAE's Economic Vision

Giel-Jan M. Van Der Tol, Group CEO of ABK, emphasized the bank's dedication to supporting the UAE's economic goals by providing specialized banking solutions. This move follows ABK's previous appointment as an escrow agent in Dubai and the launch of its mortgage loan product.

## Expanding Regional Participation

Engineer Sultan Al Memari of ADREC noted that ABK-UAE's licensing marks increased regional involvement in the market. The expansion of licensed escrow agents is carefully managed to ensure compliance with standards that support off-plan developments.

## Future Developments

Omar Wahby, CEO of ABK-UAE, highlighted the bank's commitment to developing financial solutions that support urban growth and protect the rights of all parties in real estate transactions. The bank plans to introduce digital solutions for managing escrow accounts, enhancing transparency and efficiency in the market.

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