VOL. XLII

No. 07

15-February-1999

UAE

UAEs NBD And EBI Moot Merger

Two UAE banks, the National Bank of Dubai (NBD) and EmiratesBank International (EBI), announced on 9 February that they are undertaking"serious negotiations" on the possibility of a merger. The two banksrespective legal and advisory circles are currently discussing the potentialmerger, which is expected to be announced by mid-1999. EBI Managing Directorand Chief Executive Anis al-Jallaf told the UAE daily Gulf News on 9February...