Dubai – Mubasher: The Commercial Bank of Dubai (CBD) has allowed foreign investors to invest in as much as of 40% of its capital as of Sunday, 14 June, according to Emirates News Agency (WAM).

The decision came after the bank had completed the regulatory procedures following the shareholders' approval during the ordinary general meeting (OGM) held in March.

The new foreign ownership limit in the Dubai Financial Market (DFM)-listed bank aims to enhance the market's liquidity, broaden the investment base, and increase foreign capital inflows in the UAE.

Foreign individual investors will be allowed to invest in 20% of the new foreign ownership limit of 40%, equivalent to 8% of the bank's total capital.

It is noteworthy to mention that during the first quarter (Q1) of 2020, the bank's net profits decreased by 7.3% to AED 315.323 million, compared to AED 340.054 million in the same quarter of 2019.