Emirates NBD issued the statement in response to a recent news report.
Emirates NBD Bank has said that 101,731,408 shares were purchased by 254 unique investors on 28th May 2020, following a press clipping indicating that the US-based Bank of America, BofA, had acquired a 1.5 percent stake in Emirates NBD.
In a statement published on the Dubai Financial Market website, the Dubai-based bank explained, "The largest purchase by one single investor was 10,116,892 shares on this date (28th May 2020)."
Emirates NBD launches contactless processing
Banks progressive steps endorsed
It went on to note that, "This increase in purchase volume coincides with Emirates NBD’s inclusion in the ‘MSCI Emerging Markets Standard Index’ and Emirates NBD Bank confirms that a large number of these purchases were made by Emerging Markets Index Tracking Funds.
Emirates NBD issued the statement in response to a recent news report speculating that BofA had bought 100 million shares — 1.5 per cent stake of Emirates NBD Bank PJSC — worth about AED900 million.
The total value of fund transfers among the UAE’s banks amounted to Dhs5.054 trillion during the first six months of 2020, according to the statistics released by the Central Bank of the United Arab Emirates.
Saif Al Ghurair was born in 1924 in Deira, Dubai.
Taking inspiration from John F. Kennedy's Moonshot, which united millions of people around the world to put a man on the moon, The Earthshot Prize is centred around five "Earthshots".
In a sign of confidence that the worst of Sri Lanka’s financial crisis is over, its central bank surprised markets by cutting interest rates for the first time in three years on Thursday,
Already in April, the bureau said Pakistan's CPI at 36.5% was the highest recorded, as well as the highest in South Asia, ahead of Sri Lanka.
The total number of billionaires in the UAE reached 45 in 2022, while their wealth increased by 10.8% annually to reach $200 billion, according to the "Census of Billionaires" report.