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Tamweel General Assembly Meeting Held
(23 March 2011)


Tamweel PJSC, the UAE Islamic home finance provider, announced today that its General Assembly Meeting was held on 22 March 2011.

The assembly reviewed and discussed the Directors’ report, Auditors’ report and the report of the Fatwa and Sharia Supervisory Board.

Abdulla AlHamli, Chairman of Tamweel PJSC, said: “2010 was a positive year for Tamweel. We managed to record profits in very challenging times, and witnessed Dubai Islamic Bank increase its stake in Tamweel, demonstrating the Bank’s confidence in the Company’s successful business model. Tamweel is here to serve the needs of the home finance market and 2011 will Insh’Allah be another successful year for us”.

Varun Sood, Acting Chief Executive Officer of Tamweel, said: “2011 is an important year for us and we have set some challenging objectives for ourselves. Our main focus is to continue providing exceptional customer service, launch innovative products and services, and book a high quality portfolio”.

Tamweel recently reported a net profit of AED 26 million for 2010, a turnaround from its financial performance in the previous year, when the company reported a net loss of AED 54.4 million.

For further information regarding home finance solutions from Tamweel, customers may visit the company’s branches at Business Avenue building in Deira, Dubai, and at the Marina Mall in Abu Dhabi. Customers may also contact the company by calling its call center on 800-TAMWEEL (8269335) or via its website: www.tamweel.ae

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