Dubai – Mubasher: Al Safwa Islamic Financial Services’ commercial name has been changed to Al Safwa Mubasher Financial Services as of 16 November, the Dubai Financial Market (DFM) said in a statement.
Al Safwa Mubasher’s capital rose to AED 563.8 million, according to data available on the bourse's website.
On 10 December 2015, Al Safwa Islamic said its board approved the merger with Mubasher Financial Services (MFS).
The merger will be completed before the end of this year, according to Al Safwa’s Yaqoub Al Naqbi.
The new entity will achieve “big” strategic goals to serve individual and institutional customers on the domestic, regional and global levels, Al Naqbi noted.
