MWL Secretary General stressed the need for unrestricted delivery of humanitarian aid to the Palestinians by opening all crossings
In its rating, Tamweel has been classified by Moody’s as a Government-related issuer, reflecting the shareholding of the Government of Dubai, its presence on the Board of the company through its institutionalised ownership and Tamweel’s critical importance to the burgeoning real estate finance sector in the country.
Moody’s, in its second annual rating of Tamweel, said the A3/P2 rating reflects the company’s growing franchise and dominant position in the UAE’s rapidly growing Islamic finance market.
Moody’s added that the rating also takes into account “Tamweel’s strong financial fundamentals - including improving profitability, sound capitalisation, a more balanced funding mix thanks to wider access to term financing, and impeccable asset quality - which are supported by its solid ownership and capable and experienced management.”
Commenting on the rating, Shaikh Khaled bin Zayed bin Saqer Al-Nehayan, Chairman of Tamweel, said: “The reaffirmation of A3/P2 rating from Moody’s is a reflection of the industry’s confidence in Tamweel’s strong business fundamentals and market leadership status. This rating will strengthen the company’s regional and international expansion plans, allowing us to continue to provide superior value to investors, Sukuk holders and clients.
“Further, this rating accurately reflects Tamweel’s valuable brand equity and status as a Government-related issuer, with very strong support from the Government of Dubai, further underpinning our long-term vision of growth. With a balanced funding mix and sound capitalisation, we will continue to serve as a pillar of the fiscal expansion and diversification of the UAE, contributing to the stability and growth of the real estate sector and the domestic economy as a whole.”
In its rating of Tamweel, Moody’s took special note of “the capable and experienced management team” that is leading the company forward.
MWL Secretary General stressed the need for unrestricted delivery of humanitarian aid to the Palestinians by opening all crossings
In the initial phase, the organisation will process 600 applications from individuals who meet the required conditions
Israeli forces carried out similar strikes in some other parts of the Hamas-run territory overnight, killing at least 10 people
The suspect was believed to be the key figure behind the January 28 attack
The total number of captives exchanged between the two countries in these mediations to 1994 prisoners
Both CCI reports said that during investigations Amazon and Flipkart 'deliberately downplayed' allegations of exclusive launches
The makers released the show's trailer on Instagram on Saturday, giving fans a sneak peek at what's to come
With airfares soaring and long waits to secure visas, 'seacations' are now becoming all the rage among travel enthusiasts