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Sharjah takes over Invest Bank in Dh1.12 billion deal

Apr 11, 2019


The Sharjah government has acquired a majority stake of 50.07 per cent in the struggling Invest Bank for Dh1.12 billion and appointed a new chairman.

The bank's shareholders also passed a special resolution to increase the bank's share capital for all shareholders to be underwritten by the Sharjah government up to a certain amount with details and timings to be decided later.

 


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