Emirates NBD (ENBD) has successfully completed its mandatory acquisition of all remaining shares in Emirates Islamic Bank, following an absence of shareholder objections to the takeover.

The acquisition process was initiated when Emirates Islamic Bank announced on April 8, 2025, that it had received a notification from Emirates NBD regarding the compulsory purchase of shares from shareholders who did not accept the initial offer. This initial offer was made in accordance with an offer document dated February 27, 2025, as detailed in an announcement made on June 9, 2025.

Emirates NBD Secures Full Ownership

The notice period for the mandatory acquisition concluded on June 7, 2025. Neither Emirates Islamic Bank nor Emirates NBD received any objections to the acquisition by June 9, 2025.

Consequently, Emirates Islamic Bank will instruct the Dubai Financial Market to suspend trading of its shares starting from Tuesday, June 10, 2025. All remaining shares not already owned by Emirates NBD will be re-registered under Emirates NBD in the share register on or around June 13, 2025.

Emirates NBD is set to settle the cash consideration for the remaining shareholders of Emirates Islamic Bank through the payment methods registered with the Dubai CSD at the Dubai Financial Market. Payment proceeds from the mandatory acquisition are expected to commence on or around June 9, 2025.

Shareholders who have not yet registered a payment method with Dubai CSD must update their payment details to receive their cash consideration within six months from the notice date. After this period, shareholders will need to contact Emirates NBD directly to claim their cash consideration.

This acquisition grants ENBD full ownership of Emirates Islamic Bank’s entire issued and paid-up share capital.

Dr. Ahmed Alkhalfawi, Head of Legal at Emirates Islamic Bank, signed the announcement confirming the completion of the mandatory acquisition process.

Emirates NBD Completes Acquisition of Emirates Islamic Bank Shares

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