Tamweel was a Dubai-based real estate finance and development company. The company had two branches in the

United Arab Emirates The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (The Middle East). It is located at th ...

, with the head office in

Port Saeed Port Saeed ( ar, بور سعيد and sometimes ميناء سعيد) is a locality in Dubai, United Arab Emirates. It was established by Saeed Ahmed Lootah, who named it after the Egyptian city of Port Said which was destroyed in the Anglo-French ...

, Dubai and another branch in

Marina Mall, Abu Dhabi Marina Mall (Arabic: مركز المارينا) is an Abu Dhabi shopping mall and entertainment venue which was completed in December 2000 and opened its doors to the public on 28 March 2001. The Mall is located along the breakwater on Cornic ...

. The company was engaged in Islamic Sharia-compliant property financing and investment activities, including

Murabaha ''Murabaḥah'', ''murabaḥa'', or ''murâbaḥah'' ( ar, مرابحة, derived from ''ribh'' ar, ربح, meaning profit) was originally a term of ''fiqh'' (Islamic jurisprudence) for a sales contract where the buyer and seller agree on the m ...

Ijara Ijara is a town and Sub-County in Garissa County, Kenya. It was previously capital of the former Ijara District. It is located 100 km north of Lamu and 180 km south of Garissa. Alternate meanings ''Ijara'' means rent in Arabic ...

, Forward Ijara, Istisna, Baiti and Yusr. Its financing solutions were divided into two main categories: home financing and commercial financing. The company was also involved in the business of property development and trading.

History

Tamweel was established in March 2004 as a

limited liability company A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a ...

. In July 2006, the company moved to a public

joint-stock company A joint-stock company is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certificates ...

structure and was listed on the

Dubai Financial Market The Dubai Financial Market (DFM) ( ar, سوق دبي المالي) is a stock exchange located in Dubai, United Arab Emirates. It was founded on 26 March 2000. Overview , there are 67 companies listed on DFM. Most of them are UAE-based companies ...

. In November 2008, it was announced that the

federal government of the United Arab Emirates The Federal Government of the United Arab Emirates or the UAE Government is the unitary federal government of the United Arab Emirates, composed of seven emirates with their own rulers (or emir) with varying jurisdiction and authority. The feder ...

would combine Amlak and Tamweel, which were later merged into an Islamic bank in early 2010.

References

External links

* {{Dubai World Property companies of the United Arab Emirates Companies based in Abu Dhabi