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NBS licenses Mirabank from UAE

The NBS Executive Board has licensed today "Mirabank akcionarsko društvo Beograd", thereby completing the second phase of the bank founding process.

The founder is a member of the international conglomerate known as the "Royal Group", based in Abu Dhabi, United Arab Emirates (UAE). This is the first greenfield investment in Serbia’s banking sector since 2008.

Within 30 days from today, the founder must call a meeting of the bank founding assembly to adopt the bank’s articles of association, appoint the president and members of the board of directors and the executive board, adopt the operating plan and business policy, and make the decision on the first stock issue.

Following entry in the business entities register, the bank will acquire a legal person status and is expected to start regular operations in the territory of the Republic of Serbia by late March 2015.

The Royal Group is one of the largest business and investment holdings in the UAE, with a growing presence in the Middle East, USA, Asia, Africa and Latin America. It comprises around 80 small, medium and large-sized companies and employs globally over 15,000 people.

The Group invests in corporate and public entities in sectors like finance, manufacturing, real estate, hospitality, education, healthcare, technology and media.