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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Lenders Amlak, Tamweel may be merged into new Islamic bank

Posted on 09 October 2009

From Bloomberg: Amlak Finance PJSC and Tamweel PJSC, the United Arab Emirates mortgage lenders being reorganized by the federal government, may be merged into a new Islamic bank, the country’s economy minister said.

“The final proposal is to have an Islamic bank that operates like any other Islamic lender but with a bigger focus on property finance,” Sultan Bin Saeed al-Mansouri told Dubai Television today. “The federal government will have a capital contribution.” ……………….Full Article: Source

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