17.11.2011 - Investor ordered to pay Dh16.5 mln to Amlak
A Dubai Judicial Committee that hears cases against Islamic mortgage lender Amlak has dismissed a lawsuit filed by an investor against Amlak and ordered him to pay Dh16.5 million to the company. The investor had filed a lawsuit against Amlak, seeking dissolution of the murabaha contract worth Dh17 million signed between him and Amlak. The investor also wanted Amlak to pay him Dh651,000 as the value of the first installment of the purchase price paid by him under the murabaha contract. He also demanded that Amlak return the cheque for Dh16.5m issued by him............................................Full Article: Source
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