Deals
Dubai’s Biggest Bank Joins Rivals to Draw Foreign Investors
- Emirates NBD raises FOL to 20%; plans further increase to 40%
- Gulf banks seeks to broaden investor base to boost liquidity
The Emirates NBD bank in Dubai, United Arab Emirates.
Photographer: Christopher Pike/BloombergThis article is for subscribers only.
Dubai’s biggest bank is joining Gulf competitors in an attempt to attract more foreign money.
Emirates NBD PJSC raised the cap on foreign ownership from 5% to 20% on Monday and said it will seek shareholders’ approval to double the new limit. Shares jumped to the highest level since 2007.