Tamweel PJSC, the UAE Islamic home finance provider, announced today that its shares will resume trading on the Dubai Financial Market on May 10, 2011, subsequent to approval from the Securities and Commodities Authority (SCA).
Following its board meeting held on May 5, 2011, Tamweel also announced its positive financial results for the three months ending March 31, 2011, highlighting the strength of the company's core operations during a period of increasing stability in the domestic property market.
For the first quarter of 2011, Tamweel reported a net profit of AED 27 million, compared to AED 5 million in the same period last year. In February, Tamweel reported an annual profit of AED 26 million for year 2010, bouncing back from an annual net loss of AED 54 million in 2009.
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