Dubai Islamic mortgage provider Amlak achieves 95% approval for debt restructuring
Shariah-compliant real estate financier Amlak has achieved 95% approval on its debt restructuring terms, it said on Wednesday (Jan 8).
The remaining 5% represents three creditors out of 27 with whom negotiations are currently underway, the Dubai-based company said in a stock exchange filing.
“We have already paid 42% of our Islamic deposits liabilities relating to financiers and 92% of our Islamic deposit liabilities relating to liquidity support providers,” said Amlak managing director and CEO Arif Abdulla Alharmi Albastaki.
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