VOL. XLVII
No 09
01-March-2004
UAE
REGIONAL BANKING
UAEs Middle East Bank To Become An Islamic Bank
The UAEs Middle East Bank (MEB) has announced that it is making the necessary preparations to convert itself to a fully Islamic banking institution. According to Ahmad Humaid al-Tayir, Chairman of the Board of Directors of Emirates Bank Group, which owns the majority of shares in MEB, the bank has obtained approvals from the relevant authorities for the conversion. The capital of the bank will remain...
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