Middle East Economic Survey
VOL. LIV
No 21
23-May-2011
UAE
Government Takes Control Of Troubled Dubai Bank
Following several months of speculation on its future, Dubai Bank a troubled Islamic bank owned by both Dubai Holding and Emaar Properties was taken over by the Dubai Government on 16 May, in a move the government said was aimed at protecting depositors interests. Dubai, which is yet to emerge from its damaging debt crisis, revealed that it would inject an undisclosed amount of...
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