DIB to let foreigners buy more shares | The National:
"The board of Dubai Islamic Bank, the emirate’s biggest Sharia-compliant lender, yesterday approved a plan to increase the amount of the bank’s shares that foreign investors can buy – to 25 per cent from 15 per cent.
The move comes amid demand by global institutions to hold more shares in UAE companies.
“With the improved overall economic climate as well as the spectacular performance of DFM [Dubai Financial Market] over the last year, we were under increasing pressure to allow greater liquidity for foreign investors, particularly the institutional funds,” said Adnan Chilwan, the bank’s chief executive.
When it comes into force next year, the MSCI upgrade of UAE stock markets to emerging status from frontier status is expected to attract Dh1 billion in investments into listed companies."
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