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Mega-bank delay adds to Tamweel, Amlak woes

Posted on 02 July 2009

From Maktoob.com: The delay in the proposed merger of Dubai-based mortgage lenders Amlak and Tamweel is likely to further erode investor confidence at a time the UAE’s property and stock markets are in desperate need of more funds, analysts warned on Wednesday.

The two housing finance providers controlled more than half of Dubai’s once-booming housing finance market but their lines of credit dried up in the wake of the global financial crisis and government was forced to look at merging the struggling Islamic mortgage lenders………Full Article: Source

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


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