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DIB offers to acquire Tamweel
- United Arab Emirates: Saturday, January 05 - 2013 at 05:10
Dubai Islamic Bank (DIB) has offered to take over mortgage provider Tamweel through a share swap, Bloomberg has reported. Under the proposal, Tamweel shareholders will be offered 10 Dubai Islamic shares for every 18 held, the bank said. The offer follows the UAE central bank's decision to cap mortgages for foreigners and nationals at 50% and 70% of the property values.
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