Dubai Islamic Bank Successfully Completes Merger with Noor Bank

United Arab Emirates’ (UAE) Dubai Islamic Bank (DIB) has announced the successful completion of the final stage of its merger with Noor Bank, according to a customer email confirmation, as reported in local media.

DIB temporarily suspended its services during 28th to 31st October 2020 in order to complete the integration of Noor Bank into DIB, with normal banking operations restored on the 1st of November 2020 upon successful integration.

In January 2020, DIB completed the full acquisition of Noor Bank with the issuance of 651.2 million new shares through a stock exchange deal, with Noor Bank’s operations to be fully integrated with DIB.

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