Board of Directors of Sharjah Islamic Bank agrees to raise the ceiling for foreign ownership to 40%

  • Date: 20-Oct-2021
  • Source: Emirates News Agency
  • Sector:Financial Services
  • Country:UAE
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Board of Directors of Sharjah Islamic Bank agrees to raise the ceiling for foreign ownership to 40%







SHARJAH, 19th October, 2021 (WAM) -- Sharjah Islamic Bank has announced that its board of directors agreed to raise the percentage of foreign ownership in the bank’s shares to 40 percent. This comes in preparation for submitting it to the bank’s general assembly to discuss and take the appropriate decision.

Such an important step comes in response to strong demand from investors, which indicates the extent and depth of their confidence in the bank and its ambitions, including the bank’s expansion and growth strategy.

Commenting on the announcement, Mohamed Abdalla, CEO of Sharjah Islamic Bank, said: "The UAE dealt with the Corona pandemic with both precision and speed, which has contributed to achieving advanced levels of recovery from a pandemic that has swept the world."

The state's financial policy is characterized by vitality and effectiveness, as the UAE has adopted effective financial policies. These policies have been supported and reinforced by pioneering vaccination campaigns, in addition to reliance on various precautionary and preventive measures aimed at achieving the highest levels of safety and wellness for all.

Mohamed Abdalla added: "Investors from all over the world have shown strong confidence in the United Arab Emirate’s financial markets and in particular the Sharjah Islamic