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.
Global tech alliance launches Stargate UAE
In a historic step forward for artificial intelligence and international collaboration, G42, OpenAI, Oracle, NVIDIA, SoftBank Group and Cisco today announced their partnership to build Stargate UAE.
Flydubai to resume Damascus flights
Flydubai is set to resume direct flights to Damascus from June 1, becoming the first carrier from the UAE to restart services to Syria.
UAE drives global tech dialogue at inaugural GITEX Europe
The first-ever GITEX Europe, organised by the Dubai World Trade Centre, has officially opened in Berlin.
Massive demand for Dubai Residential REIT IPO with 26x oversubscription
Dubai Holding has announced the successful completion of the book building and subscription process for the initial public offering of Dubai Residential REIT on the Dubai Financial Market.
Etihad first-quarter profit jumps 30% on strong demand
Etihad Airways' first-quarter profit for 2025 jumped 30 per cent to AED 685 million ($186.52 million), it said on Wednesday, citing strong demand and improved operational efficiency.
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UAE President Sheikh Mohamed Bin Zayed Al Nahyan’s visit to the US to boost economic and technology ties including AI.
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