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An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	Dubai Islamic Bank said on Thursday it has completed the aquisition of Noor Bank to consolidate its position as the top Islamic lender in the United Arab Emirates. DIB said in a statement posted on Dubai bourse website the acquisition was carried out through a share swap after securing the necessary approvals from the regulatory authorities. The bank said the move raises its assets to $75 billion, making it one of the biggest Islamic banks in the world, but it remains the fourth largest lender in the UAE behind three conventional banks. "The acquisition of Noor Bank is a landmark achievement, establishing DIB as one of the largest Islamic banks in the world and amongst the largest banking entities in the UAE," chairman Mohammad Ibrahim al-Shaibani said. CEO Adnan Chilwan said the acquisition will boost the UAE's position in the world of Islamic finance. "This acquisition will undoubtedly strengthen Dubai's role as a global hub for Islamic finance, allowing greater investment and growth in key sectors," Chilwan said. Islamic finance, based on banning interest rates, has been growing at a fast pace in Islamic countries. oh/kir
schema:headline	Dubai's largest Islamic bank acquires smaller lender
schema:mentions	United Arab Emirates Dubai Chief executive officer Noor Bank Adnan Chilwan Dubai Islamic Bank Islamic banking and finance Kir (cocktail)
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-01-23 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	83 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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