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UAE cuts mortgage lender Amlak’s debt by $1.1B

UAE cuts mortgage lender Amlak’s debt by $1.1B

The federal government has cut struggling Islamic lender Amlak's debt burden by $1.1 billion, the UAE economy minister said on Tuesday, in the latest effort to revive the Dubai mortgage provider whose stock has been halted since 2008.

March 20, 2012 10:59

Amlak deal would hit Dubai’s ENBD Tier 1, says broker

Emirates NBD, Dubai's largest bank by assets, could see its Tier 1 capital ratio fall by nearly 1.1 percentage points if it is forced to absorb embattled property lender Amlak Finance, HC Securities said on Sunday.

December 18, 2011 11:39

Dubai keeps aiming for skies with “highest” restaurant

World's highest restaurant in a building, at 442 metres; Creators: Opening signals pick-up after financial crisis

January 24, 2011 3:55

Emaar rules out turning $62 mln Amlak loan into equity

Statement comes a day after Emaar said it may raise its stake in the lender.

December 16, 2010 4:16
Too many banks, too few people

Too many banks, too few people

As reports surface that Emirates Islamic Bank and Dubai Bank could be merging, Kipp takes a closer look at bank mergers in the region. Are there more on the way?

October 4, 2010 4:40

Amlak, Tamweel have not yet applied for bank license

The merger process of the two UAE-based financial lenders has been facing several delays.

February 16, 2010 4:56

100pc of DFM listed companies comply with DFM disclosure rules for Q3

The Dubai Financial Market (DFM) noted on Sunday that all its listed companies, with the exception of Amlak Finance and Tamweel...

November 15, 2009 2:18

Amlak, Tamweel merger by January 2010

Dubai-based financial lenders Amlak Finance and Tamweel will…

November 3, 2009 2:56

Shuaa’s chief economist calls delay in Tamweel and Amlak merger a “shame”

A senior executive at Shuaa Capital described the extended delay in the high profile merger…

October 11, 2009 3:27

Amlak posts AED135 million loss in H1

Dubai-based mortgage lender Amlak…

August 31, 2009 12:23