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Islamic Finance Briefing - Categorized | Banking, Emerging Trends more

Too many banks, too few people

Posted on 05 October 2010

From Kippreport.com: Here in the UAE, although some experts say there is an excess of banks, only one merger – between Emirates Bank International and National Bank of Dubai – has taken place in recent history. Until this week, that is, when reports surfaced that Emirates Islamic Bank (EIB) is in talks to merge with Dubai Bank.
Dubai Bank is a unit of the Dubai Banking Group, which is a part of Dubai Holding. Speaking to Gulf News, a source close to the negotiations said there have been discussions that include the possibility of bringing Amlak, an Islamic mortgage finance company, under the newly created banking entity following the merger……………………………………….Full Article: Source

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