Business | General

Tamweel repays $300m sukuk

Tamweel issued the sukuk in 2008

  • Zawya Dow Jones
  • Published: 18:20 January 30, 2013
  • Gulf News

Dubai: Tamweel, a Dubai-based mortgage provider, on Wednesday said it repaid a $300 million (Dh1.1 billion) Islamic bond, or sukuk, that matured in January.

Dubai Islamic Bank owns 58.2 per cent of Tamweel and its board of directors recently approved a plan to take full ownership of the Islamic lender.

Tamweel issued the sukuk in 2008 for general Islamic financing and corporate purposes. It raised a similar amount in 2011, also via a five-year sukuk.

Gulf News
Quick Access

  1. Markets

  2. Economy

  3. Property

  4. Aviation

Business Top Stories

  1. Job hunting after a long absence

  2. Emirates suspends Guinea flights over Ebola

  3. A balanced realty market is not a chimera

  4. India’s e-tailers jostle for the vanguard

  5. Malaysia pushes medical tourism to Muslim guests