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| DIB signs fund deal with UAE finance ministry |
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| Monday, 08 February 2010 | |
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Dubai Islamic Bank has signed an agreement with the UAE's ministry of finance, which grants the lender capital to provide sharia compliant products. The finance ministry has granted to Dubai Islamic Bank "the wakala capital for the purpose of providing sharia-compliant financing or products and to stimulate the economic activity in the UAE," a statement on the Dubai Nasdaq website said. It did not give the value of the deal. ~ AB
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