Government intervention in Dubai Bank reawakened market rumour of a merger with Noor Islamic Bank. Once again these rumours have been firmly denied.
HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee and Chairman of Noor Investment Group, Noor Islamic Bank and Noor Takaful issued a brief press statement on Saturday, 28 May, which said, “There were never any plans to merge Noor Islamic Bank with, or have it absorbed by, any other financial institution. These were nothing but unfounded market rumors.”………………………………………Full Article: Source