Islamic mortgage provider Amlak Finance has announced the renegotiation of a restructuring deal with its financiers.
The firm said it approached financiers in September to wave a number of restrictive covenants in its original restructuring terms from 2014.
These included adjustments restrictions to allow for the companys mortgage book to be maintained at higher levels, funds to be raised under certain pre-agreed parameters and the removal of restrictions on business origination.
The majority of financiers have now approved the companys new business plan.
Specifically, …
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