Dubai Islamic Bank increases stake in Tamweel to 57 per cent

Posted by on Sep 27th, 2010 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Dubai Islamic Bank has become the majority shareholder in Tamweel, taking management control; bank's liquidity 'to positively impact' Tamweel's business. The transaction marks an important milestone for the bank and the UAE property market”, said His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank.
“Dubai Islamic Bank has always been committed to the growth and prosperity of Dubai and the UAE, and we hope that this landmark deal will have a positive impact not only for the real estate sector but the UAE’s overall economic environment,” he added.

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