Amlak Finance - UAE

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Recent Articles

• 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.

• Amlak posts $36.7m net loss in H130 August 2009

  UAE mortgage lender says losses in first half of 2009 due to fall in revenue, writedowns also weigh.

• 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.

• Amlak in talks over $3.3bn funding gap - report24 June 2009

  Mortgage lender's CEO says in discussions with banks and gov't, expects solution soon.

• Nasser al-Shaikh relieved of all gov’t posts23 June 2009

  Media office of HH Sheikh Mohammed confirms dismissals in short statement.

• Islamic lender Amlak posts Q1 loss15 June 2009

  Company chairman says it has been 'one of most challenging periods' for mortgage industry.

• Tamweel disputes media report on funding needs8 June 2009

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

• 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.

• Profits slip at Amlak Finance 11 May 2009

  Full year numbers impacted by Q4 loss after home loans market went into retreat.

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

  Amlak Finance chief says deliquencies on mortgages are growing.   

• 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.

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

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

• 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.

• Amlak, Tamweel to merge under gov't bank23 November 2008

  UPDATE 3: Dubai-based Islamic mortgage lenders to merge under Real Estate Bank.

• 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.