17.12.2008 - Mortgage sector will have to do a balancing act
From Zawya.com: The mortgage lending sector will face the challenge of balancing the opposing interests of ensuring adequate access to capital for the new entity - formed with the four-way merger between Amlak Finance and Tamweel and federal entities Emirates Industrial Bank and Real Estate Bank. It is trying to avoid having it crowd out the private sector banks entirely through its ability to finance more cheaply than a non-guaranteed entity, said a report. Should the merged entities have access to low cost funding, this will allow it to continue to compete in the mortgage market, said the UAE yearbook research report by EFG-Hermes..... Full Article: Source