Emirates Islamic Bank shareholders approve plan to raise capital

Dubai: Emirates Islamic Bank said it’s shareholders have approved plan to double its share capital to Dh10 billion from the earlier Dh5 billion, subject to approvals.

The shareholders also approved a plan to issue and allot Dh1.5 billion at the nominal value of Dh1 each, the bank said in a statement posted on Dubai Financial Market’s website.

The bank has also approved the change of the memorandum and articles of association to reflect changes in the share capital.