| [Arabnews.com] The chief executive of Emirates Islamic Bank, an affiliate of Emirates NBD, has resigned. He will be replaced by deputy chief executive, who also serves as the lender’s general manager of corporate and investment banking. Emirates Islamic Bank posted a first quarter loss of AED20 million last month, compared with net profits of AED66.6 million the year before. The bank had been touted as a possible candidate to buy Dubai Bank. Dubai’s government took control of Dubai Bank on Monday to prevent a collapse from undermining the state’s banking sector. The Dubai government said it would consider merging it with another state-owned bank, with analysts speculating that Emirates Islamic may be required to take on the bank. |
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