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 RAKBANK Lifts Foreign Ownership Limit- RAKBANK Lifts Foreign Ownership Limit
- June 20, 2014
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RAKBANK is pleased to announce that it received ministerial approval to lift its foreign ownership level to 40% following the decision to do so at the Extraordinary General Meeting held on 8th May 2014.
The new limit has been adjusted by Abu Dhabi Securities Exchange (ADX) last Thursday 5 June.
Commenting on the limit increase, Peter England, RAKBANK's CEO, said that the Bank had been running very close to the old 20% limit for some months now. Foreign interest has picked up very strongly, he explained, as a result of the UAE's inclusion in the MSCI Emerging markets index as well as the Bank's active engagement with foreign investors in recent months.
"We most probably would have seen fo...
- View more at: http://www.1888pressrelease.com/rakbank-lifts-foreign-ownership-limit-pr-531354.html
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