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Islamic Finance Briefing - Categorized | Finance, Insurance (Takaful), Performance more

UAE’s Tamweel swings back to profit

Posted on 14 February 2011

From AFP: Islamic home-finance provider Tamweel PJSC, based in Dubai, announced on Sunday that it swung back into the black in 2010, posting a modest net profit of 7.08 million dollars. The figure represents a “turnaround” from Tamweel’s financial performance in 2009, when it posted a net loss of 14.8 million dollars, it said.
“We are extremely pleased to share our positive financial results for 2010, which follow Tamweel’s recent, successful return to the market,” Abdulla al-Hamli, chairman of Tamweel, said in a statement……………………………………….Full Article: Source

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