The National Bank of Fujairah (NBF) has announced that it has issued additional Tier 1 capital securities in the amount of 275 million dollars (1.01 billion dirhams).

According to Amac News: National Bank of Fujairah announced that it released this amount as part of strengthening its capital structure to support its business and operational strategy and refinancing.
The announcement emphasized that it has issued this amount out of the $350 million of AT1's existing capital securities called for settlement in the first call.
The move follows the approval of NNF shareholders, through a special resolution at the General Assembly Meeting (GAM) held on June 26, 2024, and the necessary regulatory approvals, according to the announcement.
The new version has been privately provided to the government of Fujairah. The capital instruments provide for mandatory conversion into ordinary shares at a ratio of AED 2.85:1 within two years of this issue.