Tamweel

Tamweel was a Dubai-based real estate finance and development company established in March 2004. It specialized in Islamic Sharia-compliant property financing and investment activities, offering a range of financing solutions such as Murabaha, Ijara, Forward Ijara, and Istisna for both home and commercial property financing.

The company quickly became one of the leading mortgage providers in the UAE, facilitating the financing of properties worth over AED 10 billion between 2004 and 2008. Tamweel was established as a limited liability company and later converted into a public joint-stock company in 2006, coinciding with its listing on the Dubai Financial Market.

The financial crisis of 2008 severely impacted Tamweel, leading to a major decline in share value and temporary suspension of loan originations.

In response, Tamweel entered talks for consolidation with Amlak Finance, which eventually led to the merger of the two companies under Abu Dhabi's state-owned Real Estate Bank umbrella. Dubai Islamic Bank (DIB) stepped in as the majority shareholder, acquiring a controlling stake in Tamweel by 2010 and acquiring full ownership by 2013 through a share swap deal.

Following the acquisition, Tamweel resumed lending operations with strong backing from DIB, offering mortgages up to 80 percent of property values. The acquisition allowed DIB to strengthen its retail financing portfolio and enhanced its position in the Islamic finance industry.

In the years that followed, Tamweel’s shares were delisted from the Dubai Financial Market as it transitioned to a private company. Dubai Islamic Bank fully integrated Tamweel into its operations, consolidating its role as a key player in the UAE’s Islamic home financing sector.

The acquisition marked a significant turnaround for Tamweel and contributed to stabilizing the UAE's mortgage market during a turbulent economic period. Tamweel’s legacy remains as an innovator in Sharia-compliant real estate finance and an important milestone in the UAE’s financial and real estate development history.