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Wednesday, 24 August 2016

Emirates NBD's Islamic arm cuts over 100 jobs - sources | Reuters

Emirates NBD's Islamic arm cuts over 100 jobs - sources | Reuters:

"Emirates Islamic, the sharia-compliant arm of Dubai's largest bank Emirates NBD (ENBD) , has laid off more than 100 people as part of cost cutting to adjust to a cooler economy, sources familiar with the matter said on Wednesday.

Growth in much of the United Arab Emirates (UAE) has slowed this year because of low oil prices. Earlier this year, Emirates Islamic cut around 200 jobs.

Emirates Islamic employs around 2,000 people, an ENBD spokesman said in April after the previous cuts."



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