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

Dubai Islamic Bank to get $1bln injection

Posted on 13 May 2010

From Thenational.ae: Dubai Islamic Bank (DIB) shareholders have approved a Dh3.75 billion (US$1.02bn) capital injection from the Ministry of Finance arranged last year as part of the Government’s efforts to shore up the banking system.
The funds, structured as a Sharia-compliant wakala agreement, follows a Dh70bn Ministry of Finance stability programme put in place in October 2008 to help restart lending at banks………………………………………Full Article: Source

 
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