Dubai Islamic Bank to take over 100% of Tamweel

The Dubai Islamic Bank PJSC (DIB) intends to acquire 100 per cent of Tamweel PJSC, the UAE-based Islamic home finance provider. DIB is the major shareholder of Tamweel, and will offer the other shareholders ten DIB shares for every 18 Tamweel shares. After approval by all regulators the date of the offer will be communicated individually to all Tamweel shareholders giving them adequate time to respond.