Emirates Islamic Bank (EIB) announced the successful integration of of Dubai Bank customers, branches and operations into its platform. The most branches have now been converted to EIB systems and brand. The remaining ones will undergo conversion at th…
Dubai Bank sent a letter to Skycourts unit owners financed by the bank, informing them about their intention of partial fee refund consistent with the principles of Shariah. According to a detailed review of the service fees paid against the financed u…
According to an official announcement, by the end of November 2012 Dubai Bank will be rebranded as Emirates Islamic Bank (EIB). By merging the two Islamic banking holdings of the Emirates NBD Group, a stronger, more resilient proposition for customers …
The fact that Bank Emirates NBD takes over Dubai Bank is more likely not ot have an impact in the Gulf Arab region. Although it’s not a common merger, it is a handover arranged by the state.
Although seen as overbanked, the UAE takes rare steps towards…
Dubai Bank was saved by Emirates NBD under instructions from Sheikh Mohammed Bin Rashid Al Maktoum, Dubai’s ruler. Dubai Bank is owned by the government, which also has a 55% stake in Emirates NBD.
Rick Pudner, CEO of ENBD, stated that Dubai Bank wil…
It seems that Islamic financial institutions (IFIs) are not willing to leave wealth management to conventional foreign banks any longer. In the UAE, all IFIs have established wealth management centers in recent years. At Dubai Bank this segment is name…
Moody’s Investors Service put the E+ bank financial strength rating (BFSR), mapping to B1 on the long-term rating scale, of Dubai Bank (DB) on review with direction uncertain.
The review comes after the Government of Dubai’s announcement on 16 May 20…
Fitch Ratings has downgraded UAE-based Dubai Bank’s Individual Rating to ‘F’ . After the intervention by the Government of Dubai, taking full control of the bank, and providing a significant capital injection, the bank has also been removed from Rating…
It is now official that the Dubai government, acting under directions from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE, Ruler of Dubai, has taken over Dubai Bank with no delay.
It seems that the governme…
Fitch Ratings announced the downgrade of Dubai Bank’s Individual Rating to ‘F’ from ‘D/E’. After the the announcement by the Government of Dubai that it will take full control of the bank, and it will provide a significant capital injection, it has als…
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