Middle East Economic Survey

VOL. LII

No 45

9-Nov-2009

UAE

Merger Between Amlak And Tamweel To Be Completed By January 2010

A merger between the two largest UAE mortgage lenders, Amlak and Tamweel, will be completed by January 2010, the Minister of Economy told the press on 3 November. Tamweel and Amlak were among the first companies to feel the impact of the global financial slowdown and their mortgage lending came to a standstill. The crisis blocked their access to new funding and a merger has...