BANKING - TAIB : Dubai Sheik to sell some assets in Turkey

www.hurriyetdailynews.com -  Dubai Sheik Mohammed bin Rashid al-Maktoum is selling his financial assets in Turkey, which include Taib Investment Bank and Dubai Insurance in order to concentrate on growth in the tourism sector, according to daily Vatan.

An anonymous investment banker claims that al-Maktoum wants to sell the assets due to the impact of the 2009 Dubai debt crisis. Taib Bank was unable to grow due to the debt crisis and as a result its branch in Turkey was unable to make the expected profits.   (source)