The UAE investor has established a universal bank, capitalized it with 20 billion tenge, and plans to develop Islamic financing.
What happened
In April 2026, justice authorities registered a new legal entity: Abu Commercial Bank (Kazakhstan). In May, the Arab shareholder purchased ordinary shares of the newly created structure for 20 billion tenge.
The UAE investors received permission to establish a universal subsidiary bank from the Agency for Regulation and Development of the Financial Market (ARDFM) in March. This occurs amid an update of the supervisory framework: Finteqstan previously reported that the regulator is preparing unified rules for the resolution of problem banks, while simultaneously approving the entry of new foreign players.
The new bank plans to provide Islamic financing services through an "Islamic window" mechanism. This regulatory regime allows a traditional bank to offer Sharia-compliant services separately from its core business.
Country and market
This is ADCB's second asset in Kazakhstan. The group already owns the Islamic ADCB Bank (formerly Al Hilal). According to National Bank data as of March 1, 2026, cited by the publication Kursiv, it ranks 21st among 23 Kazakhstani banks with assets of 237.3 billion tenge. The net profit of this entity for 2025 amounted to 6.3 billion tenge.
The creation of an entity with a universal license is an intermediate stage. As ARDFM head Madina Abylkassymova previously noted, after obtaining the new license, the group plans to merge its business in Kazakhstan.
Why it matters
The emergence of a universal player with foreign capital expands the range of available financial services for local businesses and retail clients.
The launch of a universal bank gives UAE investors the opportunity to work with a wide range of clients, combining traditional credit products with Sharia norms within a single structure.
What's next
The market has yet to see how quickly ADCB will consolidate its two Kazakhstani banks. The focus shifts to exactly what products the merged entity will offer within the "Islamic window" and when it will begin active lending using the injected capital.