Tuesday, January 08, 2008

UAE will remain an international business hub, says Mohammed bin Rashid

The UAE, in particular Dubai, will remain an international financial and business hub, His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said yesterday as he inaugurated Noor Islamic Bank, the country's sixth Sharia-compliant bank. Joined by a phalanx of high-ranking officials and businessmen, Sheikh Mohammad opened a branch of Noor Bank on Sheikh Zayed Road.
The branch is one of the 10 that the bank has opened across the UAE, including six in Dubai, one in Abu Dhabi, one in Al Ain and two in Sharjah. Accompanied by Noor Bank's chief executive officer Hussain Al Qamzi, the vice-president toured the bank's various sections and acquainted himself with the bank's services and facilities.
Government-owned Dubai Holding's financial business division Dubai Group has a 25 per cent stake in Noor and so does Investment Corporation of Dubai, another state investment holding company whose interests include Emirates airline, Dubai Aluminium and a host of other businesses.

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