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Amlak Finance (Jordan) will be the first Islamic mortgage company in Jordan

04 Juin

A number of regional finance houses have set up an Islamic mortgage financing company called Amlak Finance (Jordan). The consortium is made of the investment unit of the Social Security Corporation, Jordan-Dubai Capital, Jordan Kuwait Bank, ABC Bank, Amlak Finance UAE, Global Investment House, Taameer Jordan and Al Masaken Real Estate Development Company. Inwan, becoming Amlak Finance (Jordan), will harness its expertise on the sound and prudent Islamic financing approach in light of the ‘Amlak’ imprint.

Jordinvest provided financial advisory services to the operation including developing its business plans, financial projections as well as preparing the prospectus and managing the IPO and the listing of its shares on the Amman Stock Exchange.

Amlak Finance (Jordan) will be the first public shareholding company specialising in mortgage financing services for the development and housing sectors in compliance with Shari’ah laws in Jordan. An analyst with Jordinvest said the expansion of the biggest Islamic mortgage financing services provider in the region was testimony of continued property boom in the Middle East that was anticipated to stay robust for years to come.

A number of regional finance houses have set up an Islamic mortgage financing company called Amlak Finance (Jordan). The consortium is made of the investment unit of the Social Security Corporation, Jordan-Dubai Capital, Jordan Kuwait Bank, ABC Bank, Amlak Finance UAE, Global Investment House, Taameer Jordan and Al Masaken Real Estate Development Company. Inwan, becoming Amlak Finance (Jordan), will harness its expertise on the sound and prudent Islamic financing approach in light of the ‘Amlak’ imprint.

Amlak Finance (Jordan) will be the first public shareholding company specialising in mortgage financing services for the development and housing sectors in compliance with Shari’ah laws in Jordan. An analyst with Jordinvest said the expansion of the biggest Islamic mortgage financing services provider in the region was testimony of continued property boom in the Middle East that was anticipated to stay robust for years to come.

Source : CPI Financial

Read also : Islamic finance to see rapid growth in Jordan (AMEInfo)

 
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Publié par le juin 4, 2008 dans Dubai, Jordan, Middle East, RSS

 

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