Emirates Islamic Bank to raise capital with USD4.8m

09 Oct 2016

(MENAFN) According to Emirates Islamic Bank, its plans are to raise USD408m in a rights issue, in order to increase its capital.

However, it is the latest Gulf bank to raise its capital ratios, through a rights issue or the sale of capital-boosting bonds or sukuk.

Additionally, as it said in a statement, the rights issue will increase the banks paid up share capital from 3.93b dirhams to 5.43b dirhams.

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