Friday, Jul 03, 2015

Abu Dhabi — Amlak Finance, a real estate financier in the Middle East, announced it has received the Euromoney award for Innovation in Islamic Finance.

Amlak completed a $2.7 billion financial restructuring in November 2014 after negotiations with its financiers involving a range of Islamic financing and deposit structures.

“The restructuring has allowed Amlak to maintain a healthy equity position and gearing ratio for the company to meet all regulatory requirements and create a solid foundation for future growth,” said Arif Alharmi, managing director and chief executive officer of Amlak Finance.

After the financial restructuring process, Amlak reported net profits attributable to its equity holders of Dh59 million in 2014, and Dh3.7 million in the first quarter of 2015.

Staff report

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