Amlak Finance PJSC, the largest publicly listed finance company and pioneer in home finance in the United Arab Emirates (UAE), took part at the 2007 Turkey Housing Finance Conference, organized by the International Finance Corporation (IFC) – a member of the World Bank Group - in partnership with Dünya, Turkey's leading business newspaper, and held in Istanbul from December 3-4.
Speaking at the Conference, Mr. Arif Alharmi, Amlak Finance CEO, highlighted Amlak’s best business practice and the company’s leading UAE and regional positioning during a session titled: Scaling up Housing Finance for Retail Institutions.
“As one of the fastest growing and leading Islamic home finance companies in the region, Amlak is delighted to be invited to address the highly influential attendees in this Conference on the company’s role in shaping the home finance sector and in continually introducing innovative products and services that are guaranteed to benefit not only our customers but also the development of the industry as a whole,” commented Alharmi. “Turkey’s mortgage sector seems promising as it is poised to develop considerably in the next few years, especially with the launch of the Mortgage Law in 2007; the country’s growing population, especially with the rising young demographic figures; as well as with the increasing urbanization rate.”
Since its inception in the UAE in 2000 as the only home finance company, Amlak progressed into a regional financial powerhouse following the launch of its operations in Egypt and Saudi Arabia with Jordan and additional markets being considered in the near future.
Amlak’s participation at the conference succeeded in raising awareness and created opportunities to share knowledge about critical housing finance issues.
About Amlak Finance JPSC:
Established in 2000, Amlak Finance PSJC has transformed into a public entity in 2004 and is currently the largest publicly held Islamic finance company in the UAE, with its estimated shareholders as of May 2007 reaching 35,755. Amlak Finance is the first specialised home finance provider in the UAE and continues to be a leader in the industry by retaining the biggest market share according to released financial reports in 2007. In addition, Amlak is considered the largest finance among the publicly traded companies in the UAE.
The primary activity of the company is offering medium to long-term financing solutions for residential and commercial properties in a number of emirates in the UAE. Whilst real estate finance remains Amlak’s core business, the home finance provider is constantly developing innovative products to meet customers’ demands and market conditions through offering Islamic financing solutions, real estate management, and the management of sales and selling on behalf of developers as well as offers complete solutions for major real estate developers.
