Mirabank gets permits to work from NBS

(Photo: royalgroupuae.com)

The Executive Board of the National Bank of Serbia has released a permit for work to UAE bank, which will operate at our market as Mirabank, akcionarsko drustvo, Belgrade (Mirabank, shareholder company, Belgrade), which ended the second stage in the bank setup process.

In its announcement, NBS reminds the bank is owned by a legal entity which is a part of the international conglomerate known as Royal group, headquartered in Abu Dhabi - UAE. It is the first greenfield investment in banking sector in Serbia since 2008.

After obtaining the permit, the founder shall, within 30 days, have a founding assembly of the bank where it shall produce the statute of the bank, appoint president and members of the Managing and Executive board of the bank, adopt the action plan and business policy and make decision on the first shares issuance.

The bank gets the feature of a legal entity when registered at the Registry of legal entities after which it will be able to start regular business activities at the territory of the Republic of Serbia. It is expected that the bank will start operating by late March 2015.

Royal group is one of the biggest companies and investment holdings in UAE, present in the Middle East countries, USA, Europe, Asia, Africa and North America. It comprises some 80 SME’s and big companies and hires over 15.000 people internationally.

The group invests in different business and public entities in finance, production, real estate, catering, education, health protection, technology and media, NBS announced.