Amlak Finance P.J.S.C

Ticker/ISIN

AMLAK

AEA001201010

Market/Country

Dubai Financial Market

United Arab Emirates

About Amlak Finance P.J.S.C

Country of Origin: United Arab Emirates (U.A.E)

Amlak Finance P.J.S.C (the “Company”) was incorporated in Dubai, United Arab Emirates, on 11 November 2000 as a private shareholding company in accordance with UAE Federal Law No (8) of 1984, as amended, at the constituent shareholders meeting held on 9 March 2004, a resolution was passed to convert the Company to a public joint stock Company.

The Company is licensed by the UAE Central Bank as a finance company as is primarily engaged in financing and investing activities such as Ijara, Murabaha, Mudaraba and Musharaka. The activities of the Company are conducted in accordance with Islamic Sharia’a, which prohibits usury, and within the provisions of its Articles and Memorandum of Association. In 2007, the Company obtained a license from the Real Estate Regulatory Authority, Dubai, United Arab Emirates to start Escrow Management service operations

Latest Pressrelease Summaries from Amlak Finance P.J.S.C

On January 3, 2025, the Board of Directors of Amlak Finance PJSC passed resolutions by circulation concerning regular internal matters. This information was communicated to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, by Lama Takieddin, Head of Corporate Governance and Company Secretary. A copy was also sent to the Securities & Commodities Authority.

Disclosure: Results of Board Decisions by Passing

för 6 dagar sedan

The Board of Directors of Amlak Finance PJSC plans to make decisions by circulation on Friday, January 3, 2025, at 3 PM, regarding regular internal matters. This notification is addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and is sent by Lama Takieddin, Head of Corporate Governance and Company Secretary. The Securities & Commodities Authority is also copied on this communication.

Disclosure: Board Decisions by Passing

för 10 dagar sedan

On 27 December 2024, a letter was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, providing an update on negotiations between Amlak Finance PJSC and its financiers regarding their exit from the Common Terms Agreement. Since the start of negotiations on 2 May 2023, Amlak has settled with six financiers, reducing liabilities by AED 800 million. An agreement has been reached with the remaining six financiers on a repayment plan for the outstanding AED 1.4 billion, with full repayment scheduled by October 2026. This will involve selling some of the company's assets, including plots in Ras Al Khor, pending shareholder approval. The agreement's governing documents are being drafted, and the market will be informed of any updates. The letter was signed by Lama Takieddin, Head of Corporate Governance and Company Secretary, and copied to the Securities & Commodities Authority.

Disclosure: Notification from the company

för 13 dagar sedan

On 11 December 2024, Amlak Finance P.J.S.C held a board meeting from 3:00 PM to 4:00 PM. Seven board members were present, achieving a 100% quorum. The meeting focused on discussing normal business-related matters. Lama Takieddin, the Head of Corporate Governance and Company Secretary, was the authorized signatory.

Disclosure: Results of BOD Meeting

för en månad sedan

Amlak Finance PJSC is scheduled to hold a meeting on Wednesday, 11 December 2024, starting at 3:00 PM. The agenda includes discussions on normal business activities and updates. The authorized signatory for the meeting is Lama Takieddin, who holds the position of Head of Corporate Governance & Company Secretary.

Disclosure: BOD meeting

för en månad sedan

On 27 November 2024, Amlak Finance P.J.S.C held a board meeting from 3:00 PM to 4:00 PM. Five board members were present, achieving a quorum of 71%. The meeting focused on discussing routine business matters. The authorized signatory for the meeting was Lama Takieddin, who serves as the Head of Corporate Governance and Company Secretary.

Disclosure: Results of Board Meeting

för en månad sedan

On November 21, 2024, a letter was addressed to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market, regarding a meeting of the Board of Directors of Amlak Finance PJSC. The letter, sent by Lama Takieddin, Head of Corporate Governance and Company Secretary, informed that contrary to the previous disclosure on November 18, 2024, about making a decision by circulation on November 21, 2024, it has been decided to hold a Board meeting on November 27, 2024, at 3:00 PM to discuss regular company matters. Consequently, no decision will be made by circulation. A copy of the letter was also sent to the Securities and Commodities Authority.

Disclosure: Postponing BOD meeting date

för 2 månader sedan

The letter, dated 18 November 2024, is addressed to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market. It serves as a notification regarding a resolution by the Board of Directors of Amlak Finance PJSC. The board plans to pass this resolution by circulation on Thursday, 21 November 2024, at 3 pm, concerning regular and internal matters. The letter is signed by Lama Takieddin, the Head of Corporate Governance and Company Secretary, and a copy is sent to the Securities & Commodities Authority.

Disclosure: Board Decisions by Passing

för 2 månader sedan

Threads

Page 3

Dubai Financial Market News

News Update From Amlak Finance P.J.S.C för 6 månader sedan

Disclosure: BOD meeting

Date: 3 July 2024 Listed Company: Amlak Finance PJSC Date and Day of the Meeting: Monday, 8 July 2024 Meeting Starting Time: 2:00 PM Agenda of the Meeting: - Normal business activities and updates Name of the Authorized Signatory: Lama Takieddin Designation: Head of Corporate Governance & Company Secretary Signature: [Signature]

1. Attached Document

Dubai Financial Market News

News Update From Amlak Finance P.J.S.C för 6 månader sedan

Disclosure: Notification from the company

On 28 June 2024, Amlak Finance PJSC announced that it has sold a commercial real estate building for AED 80 million, in compliance with UAE Central Bank regulation No. 112-2018, which mandates finance companies to divest foreclosed units within three years of acquisition. The building had a carrying value of AED 70.2 million as of 31 March 2024. The sale resulted in a gross profit of AED 9.8 million and the full payment was received upon transfer. The financial impact of this transaction will be reflected in Q2 of 2024. The announcement was authorized by Lama Takieddin, Head of Corporate Governance and Company Secretary.

1. Attached Document

ConsumerPrincess

Commented on FinanceBroAEDs Transaction regarding Amlak Finance P.J.S.C för 7 månader sedan

Solid move picking up Amlak Finance P.J.S.C shares at 0.86 AED. Diversifying into Consumer Discretionary could further strengthen your portfolio. Keep an eye on market trends!

ConsumerPrincess

Commented on AkSharesKumars Transaction regarding Amlak Finance P.J.S.C för 7 månader sedan

Interesting move picking up Amlak Finance at 0.806 AED. Given their focus on real estate finance, it could be a strategic addition to your Financials-heavy portfolio. Watching closely!

JohnnyDebt

Commented on FinanceBroAEDs Transaction regarding Amlak Finance P.J.S.C för 7 månader sedan

Solid buy at a decent price! Amlak Finance has potential. Keep an eye on the financials and broader market trends. Best of luck, mate, and let’s see those portfolios sail smoother waters! ⚓📈

BondSharesBond

Commented on FinanceBroAEDs Transaction regarding Amlak Finance P.J.S.C för 7 månader sedan

Intriguing move acquiring Amlak Finance. Your portfolio's resilience is commendable. Perhaps a strategic pivot to Communication Services could offset my recent -38.79%. Keep your eyes sharp, 007.

ShareUkKhan

Commented on FinDiesels Transaction regarding Amlak Finance P.J.S.C för 7 månader sedan

Interesting move with Amlak Finance, FinDiesel! Diversifying within Financials could be a smart play. Let's see how this bet pays off. Keep the faith and stay strong, my friend!

Dubai Financial Market News

News Update From Amlak Finance P.J.S.C för 8 månader sedan

Disclosure: Results of BOD Meeting

On 22 May 2024, Amlak Finance P.J.S.C held a meeting from 3:00PM to 5:00PM. All seven board members were present, achieving a 100% quorum. The board discussed normal business-related matters. The meeting was signed off by Lama Takieddin, the Head of Corporate Governance and Company Secretary.

1. Attached Document

Dubai Financial Market News

News Update From Amlak Finance P.J.S.C för 8 månader sedan

Disclosure: BOD meeting

Amlak Finance PJSC has scheduled a meeting for Wednesday, 22 May 2024, starting at 3:00 PM. The agenda for the meeting includes normal business activities and updates. The authorized signatory for the company is Lama Takieddin, who holds the position of Head of Corporate Governance & Company Secretary.

1. Attached Document

Dubai Financial Market News

News Update From Amlak Finance P.J.S.C för 8 månader sedan

Disclosure: Press release regarding financial results for the 1st QTR of 2024

Amlak Finance reported an 89% increase in its net group profit after income tax for Q1 2024, compared to the same period in 2023. The company's total assets stand at AED 3.14 billion. Amlak is currently in advanced negotiations to exit its current Common Term Agreement. The company's revenue from financing and investing business increased by 14% to AED 33 million during Q1 2024, but total revenue decreased by 9% to AED 68 million. Amlak's operating costs were down by 23% to AED 23 million. The company also repaid AED 23 million to financiers during Q1 2024, and has settled 84% of its Islamic deposit liabilities since 2014. However, Amlak's financial position was impacted by the devaluation of the Egyptian Pound against AED.

1. Attached Document

Page 3