Dubai Capital group ups stake in Tamweel

by Rob Corder Friday, 01 June 2007

Dubai Capital Group (DCG) said on Friday it it has increased its stake in Islamic mortgage lender Tamweel to more than five percent.
 
"Our investment in Tamweel is part of our long-term commitment and belief in the Islamic finance sector which is rapidly growing at the regional and global level," DGC Chief Executive Mustafa Farid said in a statement.

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DGC said the increase was part of an expansion plan to become a "top-tier investment management and banking group in the MENA region."



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