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Tamweel's rating reaffirmed
10 Oct 2008
According to Moody's, the rating is an accurate reflection of the company's growing franchise in the sharia-compliant finance market in the Middle East.
The rating also takes into consideration Tamweel's strong financial fundamentals supported by its solid ownership and experienced management.
Sheikh Khaled bin Zayed bin Saqer Al-Nehayan, chairman of Tamweel, said: "The reaffirmation of the A3/P2 rating from Moody's is a reflection of the industry's confidence in Tamweel's strong business fundamentals and market leadership status."
He added that the favourable rating should allow the company to further its expansion plans in the Middle East and underpins its proposals for long-term growth.
Meanwhile, Tamweel said it had experienced an enthusiastic response to its finance offers at the Cityscape event in Dubai earlier in the week.
The company said it had received more than 470 registrations for property on the first day of the event.
Source: Adfero
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