Bank of Khartoum government prepared Bank of Khartoum for privatization. The government then sold a 60 per cent share to Dubai Islamic Bank in 2005. The next year, Islamic Development Bank, Dubai Islamic Bank, Sharjah Islamic Bank and Abu Dhabi Islamic Bank founded Emirates and Sudan Bank in Khartoum as a fully Islamic bank. The year after, Bank of Khartoum announced that it was merging with Emirates and Sudan Bank. The merger took effect in 2008. Dubai Islamic's ownership will drop to 28 percent of the merged bank. The Sudanese government will own 10 percent of the bank, while Abu Dhabi Islamic Bank
Bank of Khartoum Bank Misr's six branches became People's Cooperative Bank. Arab Bank's four branches became Red Sea Bank or Red Sea Commercial Bank (reports differ). Commercial Bank of Ethiopia's one branch became Juba Commercial Bank. National and Grindlays Bank's four branches, which Ottoman Bank had established, became Omdurman Bank. Then in 1973 the government merged Red Sea Bank and People's Cooperative Bank into Omdurman Bank. Eleven years later, Omdurman Bank merged with Juba Commercial Bank to form Unity Bank. In 1993, the government grouped Unity Bank, National Export Import Bank, and Bank of Khartoum into the Khartoum Bank Group. In 2002 the