Dubai’s Amlak Finance net profit hits USD16m in 2014

11 Mar 2015

(MENAFN) Dubai-based Islamic mortgage lender Amlak Finance logged a net profit of about USD16 million for 2014, marking a 22 percent increase, Reuters reported.

The company signed a USD2.7 billion debt and financing restructuring deal with creditors last November after protracted negotiations since its shares were suspended in November 2008.

Amlak also reported USD517.19 million in gains from fair value adjustments on a mudaraba instrument linked to its restructuring deal, investment deposits and other Islamic financing.

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