UAE Central bank to ‘support’ Invest Bank… if needed

By Eudore R.Chand

ABU DHABI 17 December 2018: The Central Bank of the UAE (CBUAE) is closely monitoring Invest Bank’s financial developments for some time and has been working with the bank and the Government of Sharjah to develop a plan to strengthen its capital base.

In this regard, the Government of Sharjah, is firmly committed to support the bank via a direct equity investment and this plan will be presented at the bank’s AGM scheduled for the 29th December 2018 for approval, said a CBUAE statement.

In the meantime, the CBUAE will support Invest Bank with all the available liquidity facilities, which remain at Invest Bank’s disposal; if, and when, needed.

Dubai Gazette