Islamic mortgage lender Tamweel, which stopped trading its shares in November 2008, will resume trading on the Dubai bourse in ten days, an Arabic daily newspaper said on Tuesday.
Abdulla Al Hamli, the chairman of Tamweel was quoted by Al
Dubai-based Islamic mortgage lender Amlak reported a net loss of Dh219 million ($59.64 million) in 2010, as property-related income dropped and the lender booked impairments on its Islamic financing and investment assets.
The company regis
Dubai developer Emaar Properties may raise its stake in troubled Islamic mortgage provider Amlak but has not decided by how much, Emaar's chairman said on Al Arabiya television.
The United Arab Emirates' largest listed property fir
Dubai Islamic Bank (DIB) raised its stake in Islamic mortgage firm Tamweel to 57.33 per cent, Dubai's government said on Sunday, in a move that will help revive lending in Dubai's battered property market.
Dubai Islamic Bank, the e
Dubai Islamic mortgage lender Tamweel, swung to a quarterly profit in a market that remains "adverse", while rival, and potential merger partner, Amlak's loss narrowed.
Dubai's once-booming property sector has suffered a
Dubai Islamic mortgage lender Tamweel, which may merge with rival Amlak, said on Monday it swung to a second-quarter net profit of Dh5.4 million ($1.47 million).
Tamweel made a loss of 35 million dirhams in the same period last year. Separ