Islamic mortgage provider Tamweel said on Sunday its third-quarter profit soared 114 per cent as income earned from Islamic financing and investing assets grew while impairment provisions dropped.

Net income for the period surged to Dh15.7 million from Dh7.3 million a year earlier, the mortgage company said in a statement. Impairment provisions narrowed to Dh13.5 million from Dh46.6 million, while income from Islamic financing rose to Dh136.6 million from Dh128.9 million………………………………………Full Article: Source