Dubai Islamic Bank Board of Directors Discusses Acquisition of Noor Bank

23-04-2019 Media in\ Abu Dhabi
Dubai Islamic Bank (DIB), the board of directors of Dubai Islamic Bank (DIB), today announced that it has agreed to start exploring the possibility of acquiring Noor Bank.
“The Board of Directors has approved the appointment of financial advisors to conduct a comprehensive study on Noor Bank, to provide an appropriate valuation and to appoint external legal advisors to handle any legal matters,” the bank said in a statement posted on the Dubai Financial Market website.
The Board has agreed to discuss the potential transaction with the relevant regulatory authorities and the Group’s CEO has been authorized to approve the necessary expenses.