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Dubai Islamic Bank commences procedures of share offering

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Dubai Islamic Bank commences procedures of share offering

Dubai IslamicBank (PJSC)'s board of directors approved the issuance of988,437,777 shares ofthe bank to increase its capital.

The shares will be priced at 3.20 United Arab Emiratesdirhams each.

The board of directors also named Javier Romano a boardmember, effective April 27. Romano will replace Adan Abdulla Mohammed, subjectto shareholder approval at the next general assembly meeting.

As of April 26, US$1 was equivalent to 3.67 United ArabEmirates dirhams.