Dubai’s Emirates NBD aims to expand foreign ownership limit to 40%
Dubai’s biggest bank Emirates NBD PJSC aims to expand its foreign ownership limit to 40%, Gulf News reported. The move is in line with the UAE’s decision to ease rules in an attempt to attract international investors.
Yet, the bank’s goal is still to be approved by its shareholders. The group also plans to implement an immediate increase in its foreign ownership cap to 20% from 5%.
Currently, foreign shareholders own a 5% stake in Emirates NBD while Dubai’s government holds a 55.76% stake, Gulf News added.Original source: Gulf News