Noor Islamic Bank, a lender controlled by Dubai’s government, said it has never had plans to be merged or taken over, according to Sheikh Ahmed Bin Saeed Al Maktoum, chairman of Noor Investment Group.
“There were never any plans to merge Noor Islamic Bank with, or have it absorbed by, any other financial institutions,” Sheikh Ahmed said in an e-mailed statement. “These were nothing but unfounded market rumors.”
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