Business | Banking

DIB strikes deal to offer sharia-compliant mortgages

Dubai Islamic Bank has signed a deal to offer sharia-compliant home loans to buyers of about 2 billion dirhams-worth (US$544.7 million) of properties developed by MAG Group.

  • Agencies
  • Published: 12:08 March 9, 2008
  • Gulf News

Dubai: Dubai Islamic Bank has signed a deal to offer sharia-compliant home loans to buyers of about 2 billion dirhams-worth (US$544.7 million) of properties developed by MAG Group.

The bank, which is the third-largest Gulf Arab Islamic lender by market value, did not say whether it had exclusive rights to provide mortgages for MAG's residential and commercial properties in Dubai.

  • Rate this article
  • Average reader rating (2 votes) 4 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

Related Articles

  1. Back to basics on Islamic finance

    Back to basics on Islamic finance

More from Banking

  1. UK bank review recommends greater pay disclosure

  2. Lloyds shareholders approve rights issue

  3. Iraq returns to international financial markets

  4. Dubai forum tackles corporate social responsibility

All articles in Banking

More from Business

Gulf News
Popular in Business
Airlines in the region
Budget travel

Airlines in the region

Take a pictorial look at some of the budget airlines in GCC

Business Editor's choice