Amlak Finance - AMLAK

Activities

Amlak Finance PJSC is an Islamic Finance company, established in 2000 and headquartered in Dubai. The bank was established as a private shareholding company, in accordance with UAE's Federal Law. In 2004, it was converted into a public joint stock company. It operates within the banks sector, focusing on Thrifts and Mortgage Finance. It has 16 subsidiaries operating across the MENA region. Amlak conducts its operations in accordance with the Islamic Sharia, and within the provisions of its Articles and Memorandum of Association.The company specializes primarily in offering property financing solutions and Shari'a compliant products, and is involved in Islamic financing and investing activities based on structures like: Ijara, Murabaha, Mudaraba, Wakala, Musharaka, as well as Tatweer, Istithmari, Edaara, and Takaful products and services. Its products and services are categorized into five business segments: Ijarah, which is a home finance product built on Islamic principles of Shari'a; Isthithmari, which is a property finance product, designed for investors looking to invest in completed residential and commercial properties; Tatweer, which is a property finance product designed for investors looking to buy into upcoming residential and commercial properties; Edaara, which offers property management services for its home finance customers, and Platinum Lifestyle Takaful, which offers takaful plans for its home finance customers, and offers access to lifestyle benefits. The company also operates in Egypt and Saudi Arabia.Amlakalso has a strategic partnership with Dubai Land Department.During 2007, Amlak expanded its operations and launched its first international office in Cairo, which operates under the name 'Amlak Finance Egypt Company S.A.E.' It also has business associations in Saudi Arabia under the name 'Amlak International For Real Estate and Finance Co'.