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UAE cbank - Amlak, Tamweel review to ‘take some time’

Posted on 06 October 2009

From Arabianbusiness.com: UAE central bank governor Sultan Nasser al-Suweidi said on Monday it would take some time to look at Islamic mortgage lenders Tamweel and Amlak and see what kind of institution they wish to form.

The fate of a merger between the two troubled companies, hit by the Dubai property price slump, has been under review by a federal government committee since November, when the UAE announced it would merge the firms with two other state-controlled banks……………..Full Article: Source

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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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