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.
TikTok clinches deal for new US joint venture to avoid American ban
TikTok's Chinese owner, ByteDance, on Thursday said it has finalised a deal to establish a majority American-owned joint venture that will secure US data, to avoid a US ban on the short video app used by over 200 million Americans.
DP World unveils Dubai Food District project
DP World has officially unveiled the Dubai Food District, a major expansion and rebranding of the Al Aweer Central Fruit and Vegetable Market that will bring trade, storage, processing and distribution into a single, connected ecosystem.
TECOM acquires university campus in Dubai for AED125 million
TECOM Group has acquired an university campus at Dubai International Academic City for AED125 million, raising its total investments across its commercial and industrial portfolio to more than AED 5.5 billion since listing in July 2022.
Sharjah Airport marks record year with passenger surge
Sharjah Airport has announced record results for 2025, with passenger numbers reaching 19.48 million, up from 17.1 million in 2024 — a growth of nearly 14 per cent.
Dubai Holding expands hospitality portfolio with acquisition in Mallorca
Dubai Holding, through its subsidiary Dubai Holding Hospitality, has acquired the five-star Jumeirah Mallorca in Port de Sóller, Spain, from Deka Immobilien.
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