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Islamic Finance Briefing - Categorized | Banking, Performance more

UAE: Performances of Islamic banking system

Posted on 21 June 2012

With reference to a rating statement from Moody’s, Tamweel is on the verge of beginning a project based on the sale of a mortgage-backed sukuk (Islamic bond) secured in the emirate and related receivables to gather an amount of $235 million.
Tamweel, a unit of Dubai Islamic Bank (DIB), is a well established Islamic mortgage lender situated in Dubai. Investors meetings have begun since yesterday but the supposed sale’s target size is yet to be released with the road shows scheduled to come to an end on the 25th of this month………………………………………..Full Article: Source

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