Dubai Islamic Bank (DIB) is all set to acquire Noor Bank after shareholders gave a nod at the General Assembly Meeting (GAM) on Wednesday.
DIB's combined assets are valuated to touch AED 275 billion on completion of the deal.
Mohammed Al Shaibani, chairman of DIB, said: “The acquisition will provide opportunities for economic growth, ensuring that the UAE’s financial sector remains at the forefront of the Islamic economy.”
The move will fully integrate Noor Bank’s operations with DIB.
UAE, Egypt sign $30 million deal to drill oil & gas wells in Suez Gulf
UAE-based Dragon Oil, owned by the Emirates National Oil Company, has signed an agreement worth $30 million with the Egyptian General Petroleum Corporation to drill two new oil and gas wells in the Gulf of Suez.
Asian businesses account for 58% of Dubai International Chambers in H1
Dubai International Chamber has said that 58 per cent of the multinational companies (MNCs) it attracted to the city during H1 2025 came from Asia.
Trump presses NATO nations to halt Russian oil purchases
US President Donald Trump issued a letter to NATO nations on Saturday, urging them to stop buying Russian oil and impose major sanctions on Russia to end its war in Ukraine.
AI poised to advance Arabic language on global stage: ALC Chairman
Dr Ali bin Tamim, Chairman of the Abu Dhabi Arabic Language Centre (ALC), stated that artificial intelligence (AI) has now acquired the ability to produce narrative storytelling and visual content that almost mimics humans, revealing a new type of hybrid discourse between humans and machines.
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