n a preliminary statement, knowledgeable sources revealed that the Bank of Dubai may merge with the Emirates Islamic Bank NBD (EIB).
A committee comprising of Emirates NBD?s executive director Rick Bender, and senior representatives of Dubai Bank and EIB found that the merger would be possible given EIB?s sophisticated system which allows it to fully absorb Dubai Bank?s operations, in addition to significantly minimizing costs as a result of adopting a unified system, Alkhaleej said.
� 2011 Al Bawaba (www.albawaba.com)
Source: http://www.albawaba.com/business/bank-dubai-may-merge-emirates-islamic-bank-nbd-401833
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