Dubai’s Emirates NBD raises foreign ownership limit

Emirates NBD, Dubai's largest bank, raised its foreign ownership limit to 20 percent from 5 percent, it said in a statement on Monday.

The bank plans to seek approvals from shareholders and regulators to boost its foreign ownership limit to 40 percent, it added. 

“The announcement will strengthen the UAE’s proposition as one of the most attractive economies for foreign direct investment and contribute to increased liquidity and depth in the UAE’s capital markets, said  Sheikh Ahmed Bin Saeed Al Maktoum, chairman of Emirates NBD.