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RAKBank doubles foreign ownership limit

: Sunday, June 08 - 2014 @ 11:47

UAE lender, RAKBank has said it have received the official approval to increase its foreign ownership level to 40%, Gulf Today has reported. The bank had been running very close to the old 20% limit for some months now, said RAKBank’s CEO, Peter England. Foreign interest has picked up very strongly as a result of the UAE’s inclusion in the MSCI Emerging markets index, as well as the bank’s active engagement with foreign investors in recent months, he said.

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Sunday, June 8- 2014 @ 11:47 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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