Dubai Islamic Bank (DIB) is all set to acquire Noor Bank after shareholders gave a nod at the General Assembly Meeting (GAM) on Wednesday.
DIB's combined assets are valuated to touch AED 275 billion on completion of the deal.
Mohammed Al Shaibani, chairman of DIB, said: “The acquisition will provide opportunities for economic growth, ensuring that the UAE’s financial sector remains at the forefront of the Islamic economy.”
The move will fully integrate Noor Bank’s operations with DIB.
Sharjah Ruler approves 2026 general budget of AED 44.5 billion
His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the emirate’s general budget for 2026, with total spending set at around AED 44.5 billion.
Andre Agassi to headline 11th Dubai International Project Management Forum
Under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence and Chairman of the Executive Council of Dubai, the 11th edition of the Dubai International Project Management Forum (DIPMF) will bring together an elite line-up of local and international speakers, including ministers, heads of authorities and institutions, and senior executives from leading global companies.
Disney+ joins 1 Billion Followers Summit as strategic partner
The 1 Billion Followers Summit, the world’s largest global event dedicated to the content creation economy, has announced Disney+, the streaming service of The Walt Disney Company, has joined as a Strategic Partner for its fourth summit.
China hits US defence firms with sanctions over Taiwan arms sales
China's foreign ministry has announced sanctions targeting 10 individuals and 20 US defence firms, including Boeing's St. Louis branch, over arms sales to Taiwan.
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