Amlak Finance, a Dubai-based Sharia-complaint home financier, initiated talks with creditors to restructure debt, which the company restructured previously.
The company had restructured its Dh10.2 billion investment deposits and settled Dh2.8bn in cash with financiers in 2014 and subsequently revised the terms of the 12-year restructuring deal in 2016, the company said in a statement on Wednesday to the Dubai Financial Market, where its shares are traded.
The restructuring agreements have allowed for the resumption of normal business activity and enabled the company to pay Dh4.3bn, or 48 per cent of its total debt outstanding to financiers, and the redemption of Dh275 million…
Read the full article at: https://www.thenational.ae/business/banking/amlak-resumes-talks-with-creditors-to-renegotiate-debt-restructuring-1.816893