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Dubai’s mortgage firm Amlak posts $55.5 mln Q4 loss

Posted on 12 May 2009

From Reuters: Dubai-based Islamic mortgage company Amlak Finance posted a loss of 204 million dirhams ($55.5 million) in the fourth quarter mainly due to a sharp fall in real estate investments income.

Amlak, earmarked for a possible merger with its rival Tamweel TAML.DU, reported a decline in 2008 earning to 241 million dirhams from 301 million in 2007. It posted a net income of 126 million dirhams in the fourth quarter of 2008…….Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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