Sharjah Islamic Bank raises foreign ownership to 40%

Sharjah Islamic Bank raises foreign ownership to 40%

Publicly listed Islamic institution, Sharjah Islamic Bank (formerly known as the National Bank of Sharjah) has announced raising the percentage of foreign ownership in the bank’s shares to 40 percent.

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.

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

Mohammed AbdullahCEO Sharjah Islamic Bank

“Investors from all over the world have shown strong confidence in the United Arab Emirate’s financial markets and in particular the Sharjah Islamic Bank, which has witnessed a remarkable improvement in the performance of the share price since the beginning of this year. The increase in foreign ownership to 40 percent represents a new additional incentive to enhance the bank’s performance, as it also continues to keep pace with the accelerated recovery witnessed in the current economic environment.”

Mr. Abdalla stated that there has been a positive trend