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Emirates Islamic Bank and Amlak Finance Wakala Facility

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Fri, 2007/06/22 - 11:59 by Muslim Investor

Emirates Bank Group (EBG) through its subsidiary Emirates Islamic Bank (EIB) and Amlak Finance, the largest publicly listed Islamic finance company and pioneer in home finance in the UAE yesterday announced the signing of an AED 800 million flexible 360 day Wakala facility.

This is the first step of a much more comprehensive relationship between the two leading Islamic finance institutes in the UAE which will deliver innovative Islamic Finance products to the regional market.

The signing ceremony was attended by numerous dignitaries from EIB and Amlak Finance including Ebrahim Fayez Al Shamsi CEO of EIB and Nasser Al Sheikh Chairman of Amlak Finance and Arif Alharmi CEO of Amlak Finance signifying the importance of the agreement and commitment of both parties to its success.

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