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Plus, Bahrain plans safety-net fund for banks, Dubai exports during third quarter increase by 25 percent, Atlantis all set for $20 million bash, Remittances to Philippines from the UAE rise 10.9 percent 
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Nov 20, 2008
Amlak freezes mortgage loans Dubai Islamic mortgage lender Amlak has suspended new mortgage loans, thanks to the global credit crunch, reports Arabian Business. “We are reviewing our existing credit policy to ensure optimum servicing of existing and prospective accounts... hence our temporary measures of not sourcing new applications,” its CEO, Arif Alharmi said in a statement. Amlak and fellow mortgage lender Tamweel are aiming to complete a $1.6 billion merger by the end of the first quarter of 2009 despite the crisis. Previous Story Next Story Leave a Reply |
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