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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds), Market Moves more

Emirates Islamic Bank to convert deposits into capital

Posted on 19 March 2009

From Arabianbusiness.com: Emirates Islamic Bank said on Wednesday it would convert federal government deposits into regulatory capital as part of a plan to enable banks to bolster their capital as they face a rise in provisions.

Emirates Islamic, a unit of Emirates NBD, is the latest bank in the UAE seeking to strengthen its base of Tier 2 capital as loan defaults mount, and they take provisions for potential bad loans to come….. Full Article: Source

 
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