Sunday 29, December 2013 by Matthew Amlôt

DIB Board approves increase of Foreign Ownership to 25 per cent

The Board of Directors of Dubai Islamic Bank approved to increase the foreign ownership limit (FOL) from the current level of 15 per cent to 25 per cent, subject to necessary regulatory approvals. The decision was taken to address the huge demand for DIB shares by large foreign institutional investors. Although a highly liquid scrip on the exchange with approximately 60 per cent free float, the foreign ownership cap was restricting the large global institutional investors keen to participate in the organization’s success.

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