Financial and Banking News

REGIONAL BANKING

National Bank of Fujairah Formally Opens 

The formal inauguration of the National Bank of Fujairah (NBF) takes place on 22 November in Fujairah, and its first branch is to be opened in Dubai during the first quarter of 1985, according to a recent bank statement. NBF has an authorized capital of Dh400mn ($109mn), of which Dh150mn ($41mn) is paid-up, and it commenced operations on 20 September. It is owned 36% by the Emirate of Fujairah and...