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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Merger to create new mega-bank

Posted on 11 March 2009

From Gulfnews.com: The Industrial Bank is to be merged with the Real Estate bank, creating a new development bank with Dh10 billion in capital, a top official told the Federal National Council on Tuesday.

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, told the House the merger is expected to be finalised by summer, creating the Emirates Development Bank….. Full Article: Source

 
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