ADCB, UNB, and Al Hilal take part in the three-way merger
Day of Dubai, United Arab Emirates, 30 January 2019: UAE’s leading banks Abu Dhabi Commercial Bank (ADCB), Union National Bank (UNB) and Al Hilal Bank form a three-way merger to create the third largest UAE bank with a total asset size of Dh420 billion ($114 billion), after First Abu Dhabi Bank and Emirates Bank.
Business Media in Dubai will also give rise to the fifth largest bank in the GCC. The newly formed merged entity will carry the ADCB identity. Al Hilal Bank will, however, retain its existing name and brand operating as a separate Islamic banking platform within the group.
The merger transaction recommended unanimously to shareholders by the boards of ADCB and UNB, will be subject to regulatory and shareholder approvals to be sought in the upcoming weeks, as per a joint statement.
The new banking giant is expected to have around one million customers, with a significant share of the UAE market.
Day of Dubai, United Arab Emirates, 30 January 2019: UNHCR, the UN Refugee Agency, is inviting the UAE community to show solidarity with families torn apart by war and violence with the local launch of its “2 Billion Kilometres to Safety” campaign, and to join a global push that will see participants from all over the world cover the total distance traveled by refugees each year to reach safety.
UAE Business news in Dubai campaign encourages the public to walk, run or cycle to achieve a cumulative total of two billion kilometers, the distance that people forced to flee travel every year from their homes to reach the first point of safety, according to UNHCR’s calculations. Participants can use their fitness apps or the campaign website http://www.stepwithrefugees.org – to log the kilometers and contribute to a global total.
“‘2 Billion Kilometres to Safety’ will encourage people to support refugees through something they may already be doing – walking, cycling, running – or may even be the encouragement some people need to begin their own exercise programme,” said Houssam Chahine, UNHCR’s Head of Private Sector Partnerships in MENA. “Our campaign encourages individual acts of solidarity by retracing the journey of a typical refugee family to acknowledge their strength and resilience. It is important that we remind ourselves of the real and dangerous journeys refugees are forced to take to be safe and protect their families.
Reaching the 2 billion kilometres target will not only show us, and more importantly refugees, the support and solidarity of the world with their plight, but also bring us closer, with every step, in understanding their realities and needs, through their stories” added Chahine.
Local news in Dubai 2019, people in 27 countries across Africa, Asia, Central, and North America, Europe, and the Middle East will take part in the campaign, including individuals, celebrity supporters, UNHCR personnel and even refugees themselves. UNHCR hopes to raise awareness and mobilize 1.5 million people in support of refugees and their basic needs of food, water, shelter, healthcare, and protection.
Day of Dubai the UAE businesses such as Dubizzle, MBC Al Amal, Careem, Al Tayer Group, Anghami, and Bukhash Brothers, among others, have joined forces with UNHCR, with each committing to walk or run a certain number of kilometres for the campaign.
Mustafa Agha, Head of MBC Sport and regional Champion of the 2 billion kilometres campaign, who represents the UAE chapter of the campaign, said: “It’s a privilege to join hands with UNHCR on the 2 Billion Kilometres to Safety campaign to show people how they can personally contribute to helping improve the lives of the most vulnerable people in our society.”
The refugee crisis is one of the most pressing situations in our world today, with a staggering 68.5 million people displaced from their homes – over half of them women and children, according to the Global Trends report published by UNHCR in June 2018.
“Jobs in Dubai survival journey undertaken by each refugee has severely affected many physically, mentally and emotionally, including members of my own direct family, who were forced to flee from their homes in search of safety. “Today, Day of Dubai have the opportunity to take a step with them in solidarity and in the simplest way, through joining the campaign, committing to reaching the target and continuing to spread the stories of courage and resilience of these refugees. Let’s make every step count.” Agha added.
