Tamweel - UAE

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Recent Articles

• Tamweel records 95% fall in Q3 profit22 November 2009

  Dubai Islamic lender returns to profit after posting losses for three consecutive quarters.

• Tamweel, Amlak merger seen in Q1 2010 20 November 2009

  Tamweel's default rate had retreated from a peak of 3 percent recently - official.

• Dubai mortgage firms to form Islamic bank -minister9 October 2009

  UAE state panel suggests Amlak and Tamweel be merged into Islamic bank.

• UAE cbank - Amlak, Tamweel review to 'take some time'5 October 2009

  Fate of merger between troubled cos has been under review for 11 months.

• Deyaar trial delayed as witness fails to show8 September 2009

  Charges against ex-chairman, ex-CEO of Dubai developer include embezzlement.

• Tamweel posts Q2 loss of $9.5m13 August 2009

  UAE-based mortgage lender records loss after additional provisions taken to cover potential defaults.

• Moody's cuts Tamweel on slow support, funding costs7 August 2009

  Moody's lowers Dubai mortgage lender's issuer rating on firm's falling asset quality too.

• Dubai to free 3 ex-Tamweel property execs on bail29 July 2009

  Detentions were part of a series of high-level arrests as gov't aims to root out corruption.

• Tamweel disputes media report on funding needs8 June 2009

  UPDATE 1: Dubai mortgage lender dismisses analysis and conclusion of report.

• Dubai's Tamweel posts $11m Q1 net loss28 May 2009

  Islamic mortgage provider's income from properties held for sale slumps.

• Gov't approval for Tamweel, Amlak merger due in weeks 17 May 2009

  Tamweel chairman says merged firm may look to markets for extra funding later in year.

• UAE lenders expect to see rising mortgage defaults 5 May 2009

  Amlak Finance chief says deliquencies on mortgages are growing.   

• Dubai's Tamweel posts $30.6m Q4 loss30 April 2009

  Dubai-based mortgage provider posts net loss in Q4 2008, compared with a profit a year earlier.

• UAE gov't to recapitalise Tamweel, Amlak28 April 2009

  UPDATE 1:Tamweel chairman believes UAE's proeprty market has bottomed out. 

• Property will 'move again' as top lenders resume business22 April 2009

  News Amlak and Tamweel will resume lending in 'weeks' is welcomed by industry.

• Amlak, Tamweel to resume lending 'in weeks' - official 22 April 2009

  Dubai-based mortgage lenders to resume business as separate entities before merger.

• Tamweel chief urges action on property lending30 March 2009

  Chairman of UAE's second largest lender says liquidity needed to revive local economy.

• UAE gov't completes review of mortgage lender merger10 March 2009

  Review looks at Amlak and Tamweel's immediate needs and long-term objectives.   

• UAE may buy part of Amlak, Tamweel loans - paper10 March 2009

  UAE federal gov't mulls buying portion of loan portfolios to restructure Dubai mortgage cos.

• Amlak-Tamweel merger 'not definite' - finance chief5 February 2009

  Minister of economy says merger still one of many options being considered.

• UAE committee to recommend Amlak, Tamweel strategy4 February 2009

  Gov't appointed body aims to suggest options for Dubai mortgage firms.

• Dubai's Amlak to restructure staff as crisis bites1 February 2009

  Troubled Islamic mortgage lender plans to restructure workforce to confront global crisis.

• Tamweel cuts 57 jobs in restructuring move29 January 2009

  UAE Islamic mortgage lender says decision taken in light of global economic crisis.

• Amlak-Tamweel merger evaluation 'complete by Feb'29 December 2008

  Early 2009 deadline set for final assessment on state of Dubai mortgage companies.

• UAE's Real Estate Bank and Industrial Bank to merge24 November 2008

  UPDATE 1: Banks to combine as Amlak, Tamweel merge under Real Estate Bank.