IslamicFinance.de

Dubai Bank announced today the launch of its new 'Prestige' banking concept, comprising a bouquet of services specifically designed for affluent customers who are looking for exceptional value, convenience and consistent high-quality service delivery across all banking channels.
'Prestige' offers a unique bundle of services designed for individuals who transfer their monthly salaries of more than AED 20,000 to Dubai bank.

The bank cut off because it seeks to consolidate the business.

The bank is working on two Islamic bond or sukuk sales for the first quarter and may underwrite four to five Islamic bond sales in 2011.

A proposal to merge Emirates Islamic Bank controlled by Emirates NBD PJSC, with Dubai Bank and Noor Islamic Bank is supposed to be considered reported Emirates 24/7 on Oct 13. Noor disputed the report, stating it “categorically denies the market rumors about any potential acquisition of, or merger with, any financial institution.”

Noor Islamic Bank states that it has no plans to merge with another financial institution.
Media reports have circulated in recent days that Emirates Islamic Bank is in talks to buy Dubai Bank and then purchase Amlak.

Noor Islamic Bank has no plans to merge with another financial institution, it said in a statement on Sunday, dismissing speculation it may tie up with troubled Islamic lender Amlak.
A newspaper report last week said the UAE government was considering merging privately-held Noor Islamic with Emirates Islamic Bank — an affiliate of Emirates NBD — and Dubai Bank. The combined entity would then purchase Amlak.
Amlak’s fate has been in question since the long-touted plan for it to merge with rival Islamic lender Tamweel was scuppered after Dubai Islamic Bank raised its stake in Tamweel in September.
The two firms have not traded since November 2008 when the United Arab Emirates government stepped in to restructure them.
Media reports have circulated in recent days that Emirates Islamic Bank is in talks to buy Dubai Bank and then purchase Amlak.

Emirates Islamic Bank is in talks to acquire Dubai Bank and possibly Islamic mortgage lender, Amlak, Arabic Al-Ittihad has reported, citing unnamed sources. The move is in line with Dubai's efforts to integrate small and medium-sized banks into larger more competitive banking entities. Talks are in the initial stages for the acquisitions.

Dubai Bank confirmed today that its current Chief Executive Officer, Salaam Al Shaksy, will be leaving the Dubai-based Shari'a-compliant financial institution to assume the role of Chief Executive Officer at National Bank of Oman.

Dubai Bank announced today the signing of a Memorandum of Understanding (MoU) with the Community Development Authority (CDA). The MoU marks a significant step forward in the bank's Corporate Social Responsibility (CSR) programme, and is in line with its commitment to support educational causes through its CSR activities.