19.03.2009 - Emirates Islamic Bank to convert deposits into capital
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