Emirates Islamic in talks over bank acquisitions

04 October 2010

Bank is in talks to acquire Dubai Bank

Emirates Islamic Bank is in talks to acquire Dubai Bank and possibly Islamic mortgage lender, Amlak, Arabic Al-Ittihad has reported, citing unnamed sources. The move is in line with Dubai’s efforts to integrate small and medium-sized banks into larger more competitive banking entities. Talks are in the initial stages for the acquisitions, the sources said.

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