Dubai – Mubasher: Emirates Islamic Bank (EIB) said its shareholders approved on Thursday to increase the capital from AED 5 billion to AED 10 billion, according to a bourse statement.
The capital will be raised through the issuance of 1.5 billion shares at a nominal value of AED 1, subject to the UAE Central Bank’s approval.
During their general meeting, the shareholders approved to amend the memorandum and articles of association to reflect the increase in the bank’s issued share capital from AED 3.93 billion to AED 5.43 billion as a result of issuing the new shares at a nominal value of AED 1 each.
