VOL. XLIII

No. 16

17-April-2000

UAE

EBI/NBD Merger "Shelved"

According to a report in the Gulf daily Khaleej Times, the much heralded merger between two of the UAEs biggest banks, National Bank of Dubai (NBD) and Emirates Bank International (EBI), has come to a standstill. The paper reported on 10 April, that the merger had been "shelved" and quoted an NBD official as saying that this was due to "a lot of hurdles and considerable resistance from the bureaucracy." The unnamed official reportedly...