The Emirates Islamic Bank (EIB)

Dubai Bank to be rebranded by November-end

According to an official announcement, by the end of November 2012 Dubai Bank will be rebranded as Emirates Islamic Bank (EIB). By merging the two Islamic banking holdings of the Emirates NBD Group, a stronger, more resilient proposition for customers will be provided. With the completion of the alignment process, customers will be able to enjoy an expanded network of 50 branches, 100 ATMs and CDMs across the UAE. Also, there will be free access to over 700 ATMs and CDMs which are part of the Emirates NBD Group.

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EIB, HCT in Islamic banking chair deal

Emirates Islamic Bank(EIB) has signed an agreement with the Higher Colleges of Technology (HCT) to start a chair in Islamic banking and to provide HCT students with opportunities to develop skills and careers in the growing UAE Islamic banking and finance sectors.
The agreement was signed by Shaikh Nahyan bin Mubarak Al Nahyan, Minister of Higher Education and Scientific Research and HCT Chancellor and EIB CEO Abdulla Showaiter.

Dubai banks present merger plan to Central Bank

Two UAE banks have presented a plan for their merger to the Central Bank despite conditions made by one of them not to shoulder any losses suffered by the other bank.
The Emirates Islamic Bank (EIB), which has been locked in negotiations to merge or acquire Dubai Bank (DB), stipulated that the government should handle DB’s losses which could range between Dh500 million and Dh2 billion.
Dubai’s Government holds around 29.8 per cent of Dubai Bank, which has an authorised capital of nearly Dh3.4bn. It is controlled by the Dubai Banking Group, an affiliate of the government-owned Dubai Holding.

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