Mohammed opens Dubai's Noor Islamic Bank
UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum opened Dubai's Noor Islamic Bank today.
After Sheikh Mohammed cut the ribbon, he toured the bank and was briefed on its Sharia'a-compliant policies and procedures. He told the chairman to ensure that the bank's services were as impressive as its appearance. He also emphasised the importance of ensuring that the UAE, particularly Dubai, remains a hub for international business and finance.
Sheikh Mohammed attended a banquet hosted in his honour at Dubai World Trade Centre and listened to a speech by Bank CEO Hussain Al Qemzi.
The bank is funded by Dubai government (50%), the federal government (5%) and individual investors.Monday, January 7, 2008