20 October 2009
The Ministry of Finance has signed an agreement to buy the remaining 49 per cent stake in Emirates Industrial Bank (EIB) from 13 public institutions, banks and insurance firms.
The government has already owned 51 per cent in the bank.
The institutions that were involved in the sale of their stake to the government include the General Pensions and Social Security Authority and the Abu Dhabi Cooperative Society.
The banks selling stake include Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, National Bank of Dubai, Emirates Bank International, Mashreq Bank, Sharjah Bank and Arab Emirates Investment Bank. The insurance firms are Abu Dhabi National Insurance Company, Al Ain Ahlia Insurance Company, Al Dharfa Insurance Company and Dubai Insurance Company.
The Ministry of Finance has signed an agreement to buy the remaining 49 per cent stake in Emirates Industrial Bank (EIB) from 13 public institutions, banks and insurance firms.
The government has already owned 51 per cent in the bank.
The institutions that were involved in the sale of their stake to the government include the General Pensions and Social Security Authority and the Abu Dhabi Cooperative Society.
The banks selling stake include Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, National Bank of Dubai, Emirates Bank International, Mashreq Bank, Sharjah Bank and Arab Emirates Investment Bank. The insurance firms are Abu Dhabi National Insurance Company, Al Ain Ahlia Insurance Company, Al Dharfa Insurance Company and Dubai Insurance Company.
By Staff Writer
© Emirates Business 24/7 2009
