Browse related articlesDeyaar probe harms DIB's rating
United Arab Emirates: Wednesday, May 21 - 2008 at 07:12
Dubai Islamic Bank, the UAE's largest Islamic bank, was cut to 'neutral' from 'buy' at Merrill Lynch & Co, which cited a corruption probe affecting Deyaar, a unit of DIB, reported Bloomberg. DIB owns 41% of real estate developer Deyaar, whose CEO is being investigated for fraud. Merrill said bad loans at the bank are also a 'worry'.
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Jeff Florian, Senior ReporterWednesday, May 21 - 2008 at 07:12 UAE local time (GMT+4)
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