Financial And Banking News


Bank Merger Mooted in Northern Emirates 

The Bank of the Arab Coast (BAC), the small bank based in Ras al-Khaimah in the northern UAE which last month had its general manager arrested in Dubai on charges of financial irregularities, is to be merged with the Ajman-based First Gulf Bank (FGB), according to local press reports last week. According to the same reports, BAC had first approached the local National Bank of Ras al-Khaimah...