Middle East Economic Survey
VOL. XLVII
No 43
25-October-2004
REGIONAL BANKING
UAE Union National Bank Allows Foreigners To Own Up To 40%
The UAE Union National Bank (UNB) board of directors on 13 October agreed to allow foreigners to own up to 40% of the banks equity shares. An extraordinary general assembly meeting is to be held to secure shareholder approval for a 10-to-1 stock split. Jointly owned by the governments of Abu Dhabi and Dubai, the bank was set up as a public joint stock company in...
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