Successful merger of Noor Bank's operations in Dubai Islamic

Dubai Islamic Bank announced today the completion of the merger of Noor Bank operations, after the successful transfer of all banking relationships to Dubai Islamic Bank.

This acquisition strengthens Dubai Islamic Bank's position as one of the largest Islamic banks in the world, with total assets exceeding 300 billion dirhams.

The bank was keen to implement the merger project according to binding key principles based on solid governance frameworks aimed at minimizing the project's impacts on dealers and the market.

In order to achieve this goal, the bank's multi-functional and specialized work teams have worked around the clock to ensure that the transfer of banking operations is completed quickly and smoothly and with minimum interruptions to the system and the channels of the bank.

The bank was able to complete the merger process in record time, despite the unfavorable conditions at a time when most work teams work remotely due to the restrictions imposed by the "Covid-19" pandemic, and despite the difficulty of completing the project within the specified time of one year, Especially in light of the major challenges facing the global macro economy.

However, the alignment of tight planning with the operational capabilities of the work teams contributed to the completion of the merger project within 283 days, and well before the expected deadline.

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