Emirates NBD (ENBD) has completed its mandatory acquisition of all remaining shares in Emirates Islamic Bank after no shareholders objected to the takeover.
The mandatory acquisition process began when Emirates Islamic Bank announced on April 8, 2025 that it had received notification from Emirates NBD regarding the compulsory purchase of all shares held by shareholders who had not accepted the bank’s initial offer.
The original offer was made in accordance with terms set out in an offer document dated February 27, 2025, according to the announcement made on June 9, 2025.
Emirates NBD secures full ownership
The notice period for the mandatory acquisition ended on June 7, 2025. As of June 9, 2025, neither Emirates Islamic Bank nor Emirates NBD had received any objections to the mandatory acquisition.
Emirates Islamic Bank will instruct the Dubai Financial Market to suspend trading of its shares from Tuesday, June 10, 2025.
All remaining Emirates Islamic Bank shares not already owned by Emirates NBD will be re-registered under Emirates NBD’s name in the share register on or around June 13, 2025.
Emirates NBD will settle cash consideration for the remaining Emirates Islamic Bank shareholders through payment methods registered with Dubai CSD at the Dubai Financial Market.
The process of paying proceeds from the mandatory acquisition to shareholders is expected to commence on or around 9 June 2025.
Shareholders who did not register a payment method with Dubai CSD must contact the organisation to update their payment information and receive their cash consideration within six months of the notice date.
After this period expires, Emirates Islamic Bank shareholders will need to contact Emirates NBD directly to receive their cash consideration.
For further information, shareholders can contact Customer Service at the Dubai Financial Market on telephone or email.
The acquisition gives ENBD 100 per cent 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.
