Sammaan Capital Board Approves Merger Scheme to Consolidate NBFC Operations
3 hours agoBusiness
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1 SourcesAbu Dhabi, United Arab Emirates
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Sammaan Capital Board Approves Merger Scheme to Consolidate NBFC Operations

Sammaan Capital's board has approved a scheme to merge its subsidiary, Sammaan Finserve, into the parent company. This consolidation will transfer Sammaan Finserve's NBFC business to Sammaan Capital, which will then surrender the NBFC license. The move aims to streamline operations, enhance governance, and comply with regulations requiring a single NBFC license per group. This restructuring also supports Sammaan Capital's planned 1-billion investment from Abu Dhabi's International Holding Company (IHC).

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