Deals
Dubai Islamic Becomes Biggest Shareholder in Tamweel
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Dubai Islamic Bank PJSC, the biggest Shariah-compliant lender in the United Arab Emirates, will become the largest shareholder in Tamweel PJSC as Dubai seeks to restart mortgage lending after property prices slumped.
Dubai Islamic Bank received approval from the government to increase its stake in the mortgage lender to 57.33 percent from 21 percent. Tamweel’s shareholders include Dubai World Group and HSBC Holdings Plc, according to Bloomberg data.