Emirates to set up bank in Serbia

The Executive Board of the National Bank of Serbia has given today a preliminary approval for UAE bank set up in Serbia which will operate in our market as Mirabank, shareholder company Belgrade, the central bank announced.

The first stage at the set up process of the bank completed, it was stated in the announcement, and after that one, according to NBS, working permit for banking operations follow.

Until the bank get a permit, a founder can on behalf of a bank in set up to perform only activities referring to fulfilling of the terms essential so that they would get a permit to work and registration. After that, as it were said, regular operations at the territory of Serbia can start.

-Since 2008, this is the first greenfield investment in banking sector of Serbia – it was stated in the announcement.

NBS reminds that a founder of is a part of the international conglomerate known as Royal Group, headquartered in Abu Dhabi, UAE.

Royal Group started working in late 1990s and today it is one of the biggest companies and investment holdings in UAE, with operations in Middle East countries, USA. Asia, Africa and South America. It comprises some 80 small, medium-sized and big companies and it hires more than 15.000 people internationally.

The group invests in different business and public entities which include finance, production, catering, education, health protection, technology and media.