Financial and Banking News
Abu Dhabi Royal to Buy Out BCCI's 40% Stake in Former BCC (Emirates)
The sale of BCCI's 40% stake in the Abu Dhabi-based Union National Bank - therenamed BCC (Emirates) - is expected to be finalized during the first week ofAugust. A member of Abu Dhabi's ruling family is to buy the stake. BCC(Emirates) changed its name to Union National Bank (UNB) shortly afterregulatory authorities froze the majority of BCCI's operations on 5 July....