The Central Bank of the UAE (CBUAE) is closely monitoring Invest Bank's financial developments
Dubai, UAE, December 17, 2018: The Central Bank of the UAE (CBUAE) is closely monitoring Invest Bank's financial developments for some time and has been working with the bank and the Government of Sharjah to develop a plan to strengthen its capital base. In this regard, the Government of Sharjah, is firmly committed to support the bank via a direct equity investment and this plan will be presented at the bank's AGM scheduled for the 29th December 2018 for approval.
In the meantime, the CBUAE will support Invest Bank with all the available liquidity facilities, which remain at Invest Bank’s disposal; if, and when, needed.
Posted by : Dubai PR Network Editorial Team Viewed 9766 times PR Category :Banking & Investments Posted on : Monday, December 17, 2018 9:04:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Union Insurance signs agreement with DEWA to provide exclusi...
Next Story : UAE, Saudi Arabia using fintech for cross-border settlements