Amlak Finance - UAE

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Recent Articles

• Lenders ramp up interest rates on home loans20 November 2008

  Banks in the UAE increase mortgage rates by as much as 2.5% as cost of borrowing rises.

• Amlak suspends new mortgage loans19 November 2008

  Dubai-based Islamic lender says move is temporary, may also need to access retail deposits.

• New mortgage, registration laws could boost end-user confidence26 October 2008

  The introduction of mortgage laws and interim registration will provide greater regulation to protect buyers and curb market speculation, says Lynette Brown, legal consultant at Al-Tamimi.

• Amlak-Tamweel merger 'complete by end of Q1 2009'21 October 2008

  Two firms' chief executives say they expect to move rapidly on $1.6bn merger.

• Gulf exchanges rise as global credit fears ease21 October 2008

  UPDATE 5: Emaar Properties shares boost Dubai benchmark ahead of anticipated buyback plan.

• Amlak, Tamweel merger talks progress20 October 2008

  Dubai Islamic mortgage lenders say they have begun consultation with key stakeholders.

• Amlak raises outlook as Q3 profit doubles5 October 2008

  UPDATE 1: Amlak chairman says expects profit to surge by a "minimum of 100 percent" this year.

• Amlak denies merger due to funding difficulties5 October 2008

  Dubai mortgage lender says proposed merger with Tamweel will drive growth plans.

• Amlak, Tamweel in merger talks4 October 2008

  UPDATE 2: Leading Islamic mortgage lenders have begun 'exploratory discussions' over merger.

• UAE's mortgage lending jumps 55%8 August 2008

  Central banks reveals total home loans worth total of $17bn but slowdown in growth starts to show.

• Dubai's Amlak says Jordan unit raises capital21 July 2008

  Mortgage lender says capital for Amman-based operation is $89mn.

• Amlak profit skyrockets6 July 2008

  UPDATE 1: Dubai Islamic mortgage firm sees second quarter net income increase 74% to $38.7mn.

• Amlak, Mazaya salvage Skygardens deal10 June 2008

  UPDATE 1: Amlak agrees to buy 80% of tower after dispute threatened deal.

• Amlak applies for banking licence2 June 2008

  Islamic home finance provider Amlak has reapplied for a banking licence to the UAE Central Bank.

• Amlak seeking damages as property deal falls through1 June 2008

  Dubai Islamic mortgage lender seeking $22.3mn from First Dubai over Sky Gardens.

• Tamweel and Amlak's income soars as Fed cuts kick in29 May 2008

  Islamic home finance companies Amlak Finance and Tamweel reported bumper net income in the first-quarter of 2008 as they tapped cheaper funds.

• Amlak boosts profit growth outlook18 May 2008

  WEFME: Islamic mortgage firm lifts 2008 forecast to at least 80%, from 70% previously - chairman.

• Amlak reapplies for banking licence15 May 2008

  Islamic home finance provider lodges papers with UAE Central Bank.

• Amlak renews request for bank licence15 May 2008

  Dubai-based Islamic mortgage company in fresh attempt to become a bank.

• Tamweel profit surges on UAE lending23 April 2008

  Dubai-based Islamic mortgage company posts second-biggest quarter ever.

• Amlak to sell Islamic bonds worth $1.3bn 24 March 2008

  Dubai-based mortgage lender to sell bonds this year to help finance expansion, chief executive says.

• Amlak launches low-start home finance4 March 2008

  Profit-only home loans to allow lower-income households to get onto UAE property ladder.

• Amlak to redevelop Dubai suburb3 February 2008

  Mortgage firm to build mixed-use development in Al-Warqa, brings real estate investment to $1.3bn.

• Amlak posts record profit13 January 2008

  Eight-fold rise in Q4 earnings to $35mn helps largest UAE mortgage lender beat full-year target.

• Amlak to sell stake in its Egyptian unit2 January 2008

  Dubai-based mortgage lender in talks to sell stake to World Bank's International Finance Corporation.