Dubai-based property lender Amlak Finance is in talks with creditors to restructure debts of around AED7bn (US$1.9bn), in the latest attempt to resurrect a victim of Dubai’s property crash.
The sharia-compliant mortgage lender is negotiating with a creditor committee of six members, which includes two government-owned funds as well as Dubai’s largest lender and its biggest Islamic bank, two sources with knowledge of the matter said. They spoke on condition of anonymity as the information is not public………………………………………..Full Article: Source