First Gulf Bank PJSC (ADX:FGB) acquired remaining 60% stake in Aseel Islamic Finance from Reem Investments and Aldar Properties PJSC (ADX:ALDAR) on October 26, 2013. Aseel Islamic Finance recorded AED 1.5 billion of total assets. Aseel Islamic Finance will maintain an independent Board of Directors with Hana Al Rostamani as the Chairperson, while Javed Afzal was appointed as the Chief Executive Officer.

First Gulf Bank PJSC (ADX:FGB) completed the acquisition of remaining 60% stake in Aseel Islamic Finance from Reem Investments and Aldar Properties PJSC on October 26, 2013.