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 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

10 days ago

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

15 days ago

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

24 days ago

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

a month ago

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

a month ago

On November 13, 2024, Amlak Finance P.J.S.C held a board meeting from 3:00 PM to 4:45 PM. All seven board members were present, achieving a 100% quorum. The board discussed routine business matters. The authorized signatory is Lama Takieddin, who serves as the Head of Corporate Governance and Company Secretary.

Disclosure: Results of BOD Meeting

a month ago

Amlak Finance PJSC is scheduled to hold a meeting on Wednesday, 13 November 2024, starting at 3:00 PM. The agenda includes discussions on normal business activities and updates. The authorized signatory for this meeting is Lama Takieddin, who holds the position of Head of Corporate Governance & Company Secretary.

Disclosure: BOD meeting

a month ago

Amlak Finance PJSC reported a net profit of AED 53 million for Q3 2024, a decrease from AED 269 million in Q3 2023. Total assets were AED 3.19 billion. Revenue from financing and investing increased by 14% to AED 103 million, while total revenue rose slightly to AED 231 million, excluding a one-off gain from the previous year. Operating costs increased by 6% to AED 72 million due to costs associated with the expedited sale of investment properties. The company repaid AED 69 million to financiers and has settled 84% of its Islamic deposit liabilities since 2014. Negotiations are ongoing to exit the Common Terms Agreement with remaining financiers. Amortization costs decreased to AED 24 million from AED 31 million in Q3 2023. Amlak's financial position was affected by the devaluation of the Egyptian Pound against the AED.

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

2 months ago

Threads

Page 8

ConsumerPrincess

Commented on FinanceBroAEDs Transaction regarding Amlak Finance P.J.S.C a year ago

Interesting move, FinanceBroAED. Amlak Finance P.J.S.C could be a good addition considering its sector. However, as a PrJSC enthusiast, I'd advise diversifying into Consumer Discretionary too.