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 7th May 2025, the Board of Directors of Amlak Finance PJSC made a decision by circulation regarding routine internal matters. This resolution was passed at 3 PM. The communication was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, with a copy sent to the Securities & Commodities Authority. The letter was signed by Lama Takieddin, Head of Corporate Governance and Company Secretary.

Disclosure: Results of Board Decisions by Passing

5 days ago

The letter is a notification from Lama Takieddin, Head of Corporate Governance and Board Secretary, to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market. It informs him that the Board of Directors of Amlak Finance PJSC is set to make a decision by circulation on Wednesday, May 7, 2025, at 3 PM regarding routine internal matters. The letter is also copied to the Securities & Commodities Authority.

Disclosure: Board Decisions by Passing

10 days ago

On April 21, 2025, Amlak Finance PJSC held a General Assembly Meeting from 3:00 PM to 4:00 PM at Kempinski the Boulevard, chaired by Mr. Jamal Hamed Almarri. The meeting had a quorum of 60.47% of the total capital. The assembly resolved to approve several reports and financial statements for the year ending December 31, 2024, including the Board of Directors’ Report, Auditors’ Report, Internal Sharia Supervisory Committee Report, Balance Sheet, and Profit and Loss Account. The remuneration for the Board of Directors for the fiscal year was also approved. The assembly endorsed the recommendation not to distribute dividends to shareholders and absolved both the Board of Directors and the Auditors from liability for the year 2024.

Disclosure: Resolutions of General Assembly

21 days ago

The text appears to contain a sequence of identifiers or codes, rather than a coherent narrative or information that can be summarized in a traditional sense. Therefore, it cannot be summarized without additional context or explanation of what these codes represent.

Disclosure: Integrated report for the year 2024

a month ago

The Board of Directors of Amlak Finance PJSC invites shareholders to the Annual General Meeting on Monday, April 21, 2025, at 3:00 pm. The meeting will be held remotely or in person at Kempinski the Boulevard, Downtown Dubai. The agenda includes reviewing and ratifying reports from the Board of Directors, External Auditors, and Internal Sharia Supervisory Committee for the fiscal year ending December 31, 2024. Shareholders will also discuss and approve the company's balance sheet, profit and loss account, and the remuneration of Directors. The Board recommends not distributing dividends based on specified justifications. The meeting will also address absolving the Board and External Auditors from liability for 2024. Special resolutions include considering voluntary contributions for 2025 not exceeding 0.2% of the 2024 net profit and approving the sale of the company’s investments outside the UAE in compliance with UAE Central Bank regulations.

Disclosure: Invitation of General Assembly

a month ago

Amlak Finance announced its financial results for the year ending December 31, 2024. The company reported a net profit of AED 52 million, a decrease from AED 259 million in 2023. Total assets stood at AED 2.6 billion. Revenues from financing and investing activities increased by 10% to AED 135 million, while total revenue decreased by 23% to AED 347 million. Operating costs were reduced by 20% to AED 119 million. Amlak successfully reduced financiers' debt exposure by AED 757 million through debt settlement arrangements, resulting in a net gain of AED 45 million. An agreement was reached with six financiers on a repayment plan for an outstanding balance of AED 971 million. The company settled 91% of its Islamic deposit liabilities. In Egypt, the devaluation of the Egyptian Pound affected the financial position, while investments in Saudi Arabia generated an income of AED 9 million.

Disclosure: Press release regarding financial results for the year 2024

2 months ago

Amlak Finance PJSC and its subsidiaries have released their consolidated financial statements for the year ending December 31, 2024.

Disclosure: Financial statements for the year of 2024

2 months ago

On March 24, 2025, Amlak Finance PJSC held a General Assembly meeting at Kempinski the Boulevard, chaired by Mr. Jamal Hamed Almarri. The meeting, attended by 59.8% of the capital, took place from 1:00 PM to 1:20 PM. During the meeting, it was resolved to appoint KPMG as the external auditors for the company's 2025 financial statements and approve their fees. Additionally, the assembly approved the sale of some of the company’s investment properties in Dubai at Ras Al Khor, authorizing the Board of Directors or their delegates to manage and finalize the sale, including negotiations and agreement on the sale terms. The authorized signatory for this meeting was Lama Takieddin, Head of Governance and Company Secretary.

Disclosure: Resolutions of General Assembly

2 months ago

Threads

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DFM News

News Update From Amlak Finance P.J.S.C 2 years ago

Disclosure: BOD meeting

1. Attached Document

DFM News

News Update From Amlak Finance P.J.S.C 2 years ago

Disclosure: Financial statements for the 3rd QTR of 2023

The text presents a review report and consolidated interim financial information for Amlak Finance PJSC and its subsidiaries. The data covers the nine-month period ending on 30 September 2023 and is unaudited.

1. Attached Document

DFM News

News Update From Amlak Finance P.J.S.C 2 years ago

Disclosure: Detailed analysis of the accumulated losses

1. Attached Document

DFM News

News Update From Amlak Finance P.J.S.C 2 years ago

Disclosure: Press release regarding financial results for Q3 2023

Amlak Finance has reported its Q3 2023 financial results, revealing a group net profit of AED 269 million, a decrease from Q3 2022's AED 390 million. Total income for Q3 2023 also decreased by 19% to AED 364 million, while revenues from the financing business fell by 10% to AED 90 million. However, the company's debt settlement arrangements resulted in a net gain of AED 174 million and a total debt reduction of AED 531 million. Operating costs increased by 6% to AED 69 million due to one-off expenses related to negotiations with financiers. The company also managed to repay AED 80 million to financiers and has so far settled 83% of its Islamic deposit liabilities. Profit distribution to financiers decreased by 20% to AED 45 million for Q3 2023. The company also recorded a lower amortisation cost of AED 31 million this quarter.

1. Attached Document

DFM News

News Update From Amlak Finance P.J.S.C 2 years ago

Disclosure: Results of Board Decision by Passing

1. Attached Document

DFM News

News Update From Amlak Finance P.J.S.C 2 years ago

Disclosure: Board Decision by Passing

1. Attached Document

DFM News

News Update From Amlak Finance P.J.S.C 2 years ago

Disclosure: Results of Board Decision by Passing