05.06.2009 - Islamic bank chief refuses to rule out future merger

From Arabianbusiness.com: The CEO of Noor Islamic Bank on Thursday called for greater consolidation of the UAE’s banking sector and said he would not rule out a merger in the future. Hussain Al Qemzi said that the UAE needed fewer and larger banks if it was to compete with other financial economies across the world. “When you live in an isolated economy you don’t need it, but today we are facing the world…we need bigger banks to survive,” said Al Qemzi.........Full Article: Source

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