EDB discusses 2015 action plan for customers

Khalid Mohammed Belami, EDB chairman, said the action plan 2015 will launch the bank’s products and services and other smart applications for UAE citizens

Published: Mon 29 Dec 2014, 11:56 PM

Last updated: Fri 3 Apr 2015, 5:14 PM

The Emirates Development Bank (EDB) has met to discuss its action plan for 2015.

Khalid Mohammed Belami, EDB chairman, said the action plan 2015 will launch the bank’s products and services and other smart applications for UAE citizens.

The EDB’s strategy aims to provide real estate credit for citizens to build their houses, extend direct or indirect funding for entrepreneurs of small and medium scale enterprises. The EDB will also offer financing services for agricultural, industrial and infrastructure projects.

The bank was established by Federal Decree — Law no. 7 of 2011 with an authorised capital of Dh10 billion.

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RAK Ceramics Bangladesh to sell pharma unit

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RAK Ceramics Bangladesh has a 55 per cent stake in RAK Pharma. The board of RAK Ceramics Bangladesh approved the offer to acquire 77.5 per cent of the shares of RAK Pharma for $9.5 million. The company is selling its entire stock of RAK Pharma shares, with other shares being sold by minority shareholders.

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