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Dubai Islamic Bank approves deposit conversion

Posted on 13 May 2010

From Arabianbusiness.com: Dubai Islamic Bank (DIB) approved on Wednesday the conversion of a 3.75 billion dirham ($1.02 billion) state deposit into tier-2 capital, the bank said.
An extraordinary general meeting approved the tier 2 wakala, or Islamic deposit, agreement with the finance ministry, the emirate’s largest Islamic lender said in a statement………………………………………Full Article: Source

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