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Amlak Finance, a leading specialised real estate financier in the Middle East, said it has redeemed an additional Dh100 million ($27.2 million) of a Mudaraba instrument worth Dh1.3 billion ($353 million) as part of its restructuring plan. With this move,
Real estate finance firm Amlak Finance has redeemed a further Dh100 million of a Dh1.3 billion Mubadala instrument agreed as part of its restructuring. The payment takes Amlak's total redemption to Dh309 million, or 21 per cent of the Dh1.3 billion
Amlak, the Sharia'a-compliant mortgage financing company, said its third quarter profit more than doubled after a reversal of impairment on Islamic financing and investment assets. Net income attributable to equity holders of the parent rose to Dh11.8