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The acquisition of a struggling Islamic lender by Dubai’s largest bank, Emirates NBD , was bankrolled in part by Abu Dhabi, which helped bail out Dubai over two years ago when it faced a debt crisis.
ENBD, 55.6-percent state owned through the Investment Corporation of Dubai, was ordered by Dubai’s ruler in October to take over loss-making Dubai Bank, which had been rescued by the emirate’s government earlier in 2011………………………………………..Full Article: Source
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Islamic Finance Briefing - Categorized | Banking, Emerging Trends more
Abu Dhabi helps Dubai again with bank bailout
| Posted on 16 February 2012 |
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