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Islamic Finance Briefing - Categorized | Banking, Market Moves more

New queries on lenders’ merger

Posted on 13 January 2010

From Thenational.ae: Amlak and Tamweel once controlled more than half of Dubai’s booming mortgage market, but for more than a year the country’s two largest Islamic lenders have been closed to new customers while they crept toward a merger.

Now the creation of a judicial panel to hear disputes involving the two lenders and their creditors is expected to clear the way for the tie-up. But the new panel’s precise legal remit has not been made public and lawyers fear it may be usurping a function better provided by the country’s court system………………………………….Full Article: Source

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