Business | Banking
UAE Cabinet approves setting up Emirates Development Bank
The Cabinet approved establishing Emirates Development Bank with a capital of Dh10 billion.
- Vice-President and Prime Minister of the UAE and Rulerof Dubai, His Highness Shaikh Mohammad Bin RashidAl Maktoum, yesterday chaired a Cabinet meeting in thepresence of Deputy Prime Minister and Minister of Interior Lt Gen Shaikh Saif Bin Zayed Al Nahyan and Deputy Prime Minister and Minister of Presidential Affairs Shaikh Mansour Bin Zayed Al Nahyan. The cabinet approved a federal draft bill for the establishment of the Emirates Development Bank.