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Islamic Finance Briefing - Categorized | Finance, Financial Instruments (Credit Cards, Debts, Loans, Mort more

Amlak debt slashed by Dh4 bln

Posted on 21 March 2012

The government committee overseeing the overhaul of Amlak Finance has cut the company’s debt by Dh4 billion (US$1.08bn) as attempts to clean up the after-effects of Dubai’s debt crisis proceed.
The committee had succeeded in lowering the Islamic mortgage company’s total debt “in coordination with the federal Government and the local parties concerned”, said Sultan Al Mansouri, the Minister of Economy………………………………………..Full Article: Source

 
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