One of the largest mortgage banks in the UAE Tamweel announced that from November will once again provide loans for housing and mortgages. The Bank is ready to allocate for this month 27.2 million dollars, reports Bloomberg.
Bank "froze" the issuance of loans from the financial crisis in 2008. In September 2010 a controlling stake in Tamweel has acquired the third-largest Islamic bank in the world, Dubai Islamic Bank, owned by the state.
According to the head of the bank Tamweel Wasim Saifi, due to falling prices of housing demand in Dubai, huge, so the government measures to quickly revive the dormant market. Interest rates on mortgage loans will amount to 6,5-8%, says the official statement of the bank.