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Amlak sets up Dh500 million investment arm
DUBAI — Amlak Finance PJSC, a leading Islamic finance company, yesterday announced the setting up of Amlak Investments, with an authorised capital of Dh500 Million as a wholly owned subsidiary of Amlak Finance PJSC.
Amlak Investments will focus on the various investment opportunities across a diverse range of sectors in the UAE, GCC and overseas given the current economic boom. The new company will target the following areas: finance, insurance, manufacturing & industrial developments, brokerage services, commercial real estate development and management, development and marketing of Shariah-compliant investment products, private equity and asset management.
Mohammed Ali Al Hashimi, Managing Director & CEO of Amlak Finance has been appointed as Chairman of Amlak Investments.
"The Amlak brand is now an established entity in the UAE and GCC due to the success and phenomenal growth of Amlak Finance in becoming the largest publicly listed Islamic Finance company in the UAE today", said Al Hashimi.
"With Amlak Investments we can focus on the various investment opportunities existing in the market today while allowing Amlak Finance to concentrate and further enhance its core activities of finance", he said.
"We believe that Amlak Investments will further enhance shareholder value, provide synergy with Amlak Finance and ultimately result in additional profit to the bottom line going forward".
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