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Islamic Finance Briefing - Categorized | Banking, Emerging Trends, Market Moves more

UAE plans Tamweel, Amlak merger into bank

Posted on 01 October 2009

From Maktoob.com: A UAE government body overseeing the restructuring of two troubled Islamic mortgage lenders is mulling merging them into an Islamic bank and doubling their capital, a newspaper reported on Wednesday citing bankers.

The new entity will have a capital of 5 billion dirhams ($1.36 billion), doubling the 1.5 billion dirham capital of Tamweel and the one billion dirham capital of Amlak, Al-Khaleej said………………..Full Article: Source

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