Dr. Ajith Kumar V.V
The Sharjah government has acquired a majority stake of 50.07 per cent in the struggling Invest Bank for Dh1.12 billion and appointed a new chairman. The bank's shareholders also passed a special resolution to increase the bank's share capital for all shareholders to be underwritten by the Sharjah government up to a certain amount with details and timings to be decided later. Citing sources, newswires have reported that the Sharjah government was weighing a merger of Invest Bank with Bank of Sharjah and United Arab Bank.
Source: https://www.khaleejtimes.com/business/banking-finance/sharjah-takes-over-invest-bank-in-dh112-billion-deal