Noor Islamic Bank Cut Around 30 Staff, Chief Says
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.”
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