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Dubai Islamic Bank gets nod for property firm stake

Posted on 27 September 2010

From AFP: Dubai’s government said on Sunday it has given the green light to Dubai Islamic Bank for a majority stake in Tamweel, one of the emirate’s largest property finance groups.
DIB would now become the largest stakeholder in Tamweel with a 57.33-percent share, the government said in a statement, in a move to revive the property lending market that has suffered the worst by the global financial crisis……………………………………….Full Article: Source

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