Established in March 2004, Tamweel was founded as a joint venture between Dubai Islamic BankDubai Islamic Bank and IstithmarIstithmar World. With its headquarters based in Dubai and branches in Dubai and Abu Dhabi, Tamweel provides Shari'a compliant home financing for residential properties that are under construction or are ready for occupation. Clients can either purchase or lease-to-own the property.

Tamweel has distinguished itself by being the only company in the UAE that has been offering Islamic home finance products since its inception, which has added to its role in the development of the UAE real estate market. In addition to financing properties for level one developers, Tamweel has also assisted many secondary and third tier developers to launch their properties in the market.

In July 2006, Tamweel underwent an IPO on the Dubai Financial MarketDubai Financial Market, which raised USD150 million and was oversubscribed by 485 times.

Tamweel has raised finance in the international markets through convertible and non convertible sukuk (asset based securities) and has securitized a part of its Islamic financing portfolio.