Middle East Economic Survey


No 42



Emirates NBD Finalizes Takeover Of Troubled Dubai Bank

The government of Dubai announced last week that Emirates NBD the UAEs biggest bank was to take over troubled Islamic lender Dubai Bank, in a bid to condense and strengthen Dubais banking system. In an e-mailed statement, the government said that this move came in line with Dubai government efforts to enhance the banking sector in the emirate. However, given that Emirates NBD...