Abu Dhabi Islamic Bank said it may allow non-UAE nationals to hold up to a quarter of the company's shares, in a move that could possibly attract interest from other Middle Eastern countries.

Foreigners are currently barred from owning shares in the Islamic lender. Shares in the bank rise nearly 6 percent making it the best-performing stock in Abu Dhabi on Tuesday.

"It comes at a difficult time...international investors are busy at home managing their cashflows...but regionally it could do well with maybe interest from Jordan, Egypt," said Vyas Jayabhanu, head of investments at Al Dhafra Financial Broker.   

The bank's board of directors will meet on Feb 14 to discuss the plan, as well as a share buyback and the 2010 budget plan, according to a statement posted on the Abu Dhabi exchange's website.

"It will be of interest, as the bank is Abu Dhabi-based and Islamic, historically it's been targeted as a good buy," said Ayman el-Saheb, director of operations at Darahem Financial Brokerage.

The bank requested trading in its shares to be suspended on Feb 14. -Reuters