VOL. XLVII

No 20

17-May-2004

CAPITAL MARKETS

AMLAK Looks To Diversify, Despite Mortgage Market Boom

Dubai-based mortgage provider AMLAK Finance has seen a strong first quarter: profits climbed, the companys IPO (initial public offering) in January was 33 times oversubscribed and its conversion from a conventional to an Islamic firm was successfully completed. So far, the booming Dubai property market has delivered good returns, especially given that AMLAK has been, since its inception in October...