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December 9, 2023

Dubai Mashreq Bank shareholders approve $1bln bond issuance

Shareholders of Dubai-based Mashreq Bank have approved a special resolution for the issuance of conventional bonds for up to $1 billion.

The proceeds of the bonds will be used for regulatory capital purposes and to strengthen the group’s capital adequacy ratio, the bank said in a filing on the Dubai Financial Market (DFM) on Thursday.

Shareholders also approved the cash dividend of one dirham per share for the fiscal year 2021.