A bank shall be established as a public joint-stock company entirely owned by the government under the name Emirates Development Bank. The bank shall carry out several functions, including supporting industrial projects, as well as participating in the implementation, development and support of development projects in the state.
The authorised capital of the bank shall be AED 10,000,000,000. A board of directors shall undertake the management of the bank, and a cabinet resolution shall be issued on the appointment and specification of the benefits thereof.
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