From Cpifinancial.net: Local press reports suggest the Government of Dubai is behind a plan to bring together three of the Emirate’s Islamic banks, Emirates Islamic Bank, Dubai Bank and Noor Islamic Bank, into one merged entity
Earlier this month Al Ittihad newspaper had reported that Dubai Bank and Emirates Islamic Bank were in merger talks. Now it appears that Noor Islamic Bank could also be part of the deal. However, it would appear that there is more to the suggested merger than just creating a larger Islamic institution with the critical mass to take on the competition………………………………………Full Article: Source