Dubai's Noor Islamic Bank eyes global expansion

Dubai's Noor Islamic Bank said yesterday it was well capitalized to fund growth and expansion and was seeking opportunities abroad, about six months after it put plans on hold because of the global economic crisis. Noor Islamic, which aimed to be the world's largest Islamic bank within five years of its launch in 2008, said the conversion of government deposits into Tier-2 capital had put it in a strong position to weather the economic downturn.

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