Dubai Islamic Bank prepares for acquisition in Turkey

Dubai Islamic Bank has received approval from its board of directors for a digital banking acquisition in Turkey. The Board of Directors of Dubai Islamic Bank has approved the acquisition of 25 percent of a new digital banking group in Turkey. The bank did not provide any information regarding which bank would be acquired in the offer regarding Turkey, but added that the offer is subject to approval by the relevant regulatory bodies. The bank’s total assets amount to $75 billion, while the bank reaches 5 million customers through its 500 branches. The bank’s total employee count is over 10,000. The bank, which was founded in 1975, operates in the field of participation banking.