Amlak Finance has signed an agreement with a Central Bank of the UAE (CBUAE)-regulated institution to sell part of its financing contracts for an initial purchase price of AED 93 million (USD 25 million).
The Dubai Financial Market (DFM)-listed company stated that the transaction is expected to have a negative financial impact of approximately AED 20 million.
Finalisation of the deal remains contingent on approval from the CBUAE.
Earlier in July, Amlak disclosed that it had fully repaid its outstanding obligations to financiers, settling
