DIB to acquire Noor as Gulf M&A spree continues

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By Mariam Meskin
10 Jun 2019

Dubai Islamic Bank (DIB) is set to acquire smaller rival Noor Bank after months of consideration. The merger will create one of the region's largest Islamic banks, and adds to a succession of bank tie-ups taking place or under consideration across the Gulf.

At a meeting on Sunday, DIB's board of directors agreed to recommend to a general meeting of shareholders that they approve the acquisition of all of Noor Bank's shares. The date and time of the general meeting is yet to be announced. 

The merger would create one of the ...

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