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UAE Cabinet restructures Emirates Development Bank board

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The eight-member board will be chaired by Obaid bin Humaid Al Tayer, the Minister of State for Financial Affairs, and will serve a three-year term.


The UAE Cabinet has restructured the Board of Directors of the Emirates Development Bank (EDB), according to local newswire WAM.

The bank specialises in facilitating real estate credit allocated for the construction, maintenance and development of buildings prepared for private housing as well as financing projects and agricultural crafts and activities on behalf of the government as well as providing support to Emirati entrepreneurs to finance their projects.

The lender was established to contribute to the economic and social development of the UAE as a key partner in providing financial services for development.

TAGS : Emirates Development Bank, Board of Directors

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