The bank is widening its capital base and looking to attract more foreign investor support.

Emirates NBD Bank, one of the top local Gulf region banks whose services include private banking, says that foreign investors can now own a larger share of its capital.  The bank is drawing in fresh capital at a time when the region's banks are competing for global business.

Having previously capped foreign owners at 5 per cent, Emirates NBD has lifted this to 20 per cent, and will double that to 40 per cent in future.

“The announcement will strengthen the UAE’s proposition as one of the the most attractive economies for foreign direct investment and contribute to increased liquidity and depth in the UAE’s capital markets. Further, the announcement is aimed at diversifying the bank’s investor base as Emirates NBD continues to deliver value to its shareholders," His Highness Sheikh Ahmed Bin Saeed Al Maktoum, chairman of Emirates NBD, said.