Jan 30 2013
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Tamweel repays $300m sukuk
had issued the Sukuk in early 2008
This announcement follows the recent successful settlement by the company of its $210 million home finance asset-backed security issued in 2007.
In line with its long term funding strategy, Tamweel issued the Sukuk in early 2008. The proceeds were used for general Islamic financing and corporate purposes. The timely repayment of the Sukuk from its own resources demonstrates the financial strength and healthy fundamentals of Tamweel , as well as the funding depth of its majority shareholder Dubai Islamic Bank (DIB).
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