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.
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H.H. Sheikh Ahmed approves launch of business media platform
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Saudi Aramco resumes oil loading at Ras Tanura after 4-month halt
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Summer Davos ends with call to boost innovation and growth
Global leaders have called for greater investment in innovation, skills and technology to drive economic growth as the World Economic Forum's Annual Meeting of the New Champions concluded in Dalian, China.
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Officially the UAE's favourite DJ, Dany Neville makes sure you have the soundtrack you need every Saturday night.
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Malcom Todd
Marry You
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