New Board of Directors at Noor Bank

Based on approvals received from the regulators and the shareholders of Dubai Islamic Bank (DIB) and Noor Bank in their respective General Assembly Meetings, DIB is now progressing with the acquisition of Noor Bank. In order to ensure smooth acquisition of the transaction and achieve seamless integration of Noor Bank into DIB, it has been decided to reconstitute the Board of Directors of Noor Bank as follows:

1)         Mr. Yahya Saeed Ahmed Nasser Lootah (current board member in DIB);

2)         Mr. Hamad Buamim (current board member in DIB);

3)         Mr. Ahmad Mohammad Saeed Bin Humaidan (current board member in DIB);

4)         Mr. Abdulla Ali Obaid Al Hamli (current board member in DIB); and

5)         Dr. Adnan Chilwan (Group CEO of DIB).

With a successful track record and wealth of experience behind them, the appointed members of the interim Board will be responsible for the management of Noor Bank and implementation of the integration plan of Noor Bank into DIB in order to effectively realize the benefits of the acquisition and unlock value for all stakeholders.