The National Bank of Serbia (NBS) has issued an operating licence to Mirabank, a unit of UAE’s Royal Group conglomerate.
The central bank provided preliminary clearance to Mirabank in August to begin operations.
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Jorgovanka Tabakovic, central bank governor of Serbia, said that Mirabank would invest $5bn in the Balkan country by 2017.
According to a statement issued by the central bank, Mirabank is scheduled to launch operations by the end of next March.
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