Dubai Islamic Bank (DIB), UAE’s largest shariah-compliant lender, has completed the sale of its 20.8% stake in Jordan Dubai Islamic Bank (JDIB).
DIB owned the stake in the Jordanian bank through a 40% shareholding in MESC Investments.
MESC has offloaded the stake to Bank Al Etihad and Etihad Islamic Investment Company for an undisclosed amount.
“All the necessary conditions for the transaction have been satisfied,” DIB said in a bourse filing.
JDIB has a network of 21 branches throughout Jordan. The bank offers a range of services including retail banking, corporate banking, treasury, investment and financial institutions services, and small business finance programs.