Dubai mortgage lender Tamweel on Wednesday said its third-quarter profit more than tripled from a year earlier due to lower provisions.
The company made a profit of 27.6 million dirhams ($7.51 million) for the three months to Sept
Dubai Islamic Bank has settled 4 billion dirhams ($1.09 billion) of liabilities from mortgage subsidiary Tamweel two years ahead of their maturity, the bank said on Thursday.
This amounts to all of Dubai Islamic's bilateral li
Dubai mortgage lender Tamweel reported a 40 percent rise in second-quarter profit on Thursday.
Tamweel, which is due to delist from the Dubai Financial Market to allow parent company Dubai Islamic Bank to take full ownership, made
Sharia-compliant mortgage lender Tamweel said on Monday its shareholders had approved the company's delisting from the Dubai stock exchange, paving the way for its acquisition by Dubai Islamic Bank.
Dubai Islamic Bank said in
Dubai Islamic Bank (DIB) has announced that it has extended the deadline to March 30 for acceptance of Tamweel share swap applications, to allow adequate time for shareholders to complete administrative formalities.
DIB is the majority
Dubai Islamic Bank (DIB) said its shareholders have given approval to the lender for 100 per cent acquisition of the emirate's top Islamic mortgage lender, Tamweel.
The announcement was made at the end of DIB's extraordina
Tamweel, the Dubai-based Islamic mortgage lender, posted a 11.3 per cent drop in fourth-quarter net profit on Tuesday, Reuters calculations show, with the company blaming a full-year decline in earnings on provisions.