DUBAI — Dubai Capital Group (DCG) announced yesterday it has increased its stake in Tamweel PJSC, the UAE Islamic home finance provider, to over five per cent.
With its aim to be a top tier investment management and banking group in the MENA region, DCG's investment in Tamweel is in line with its current expansion strategy and is part of Dubai Group's overall interest in the Islamic finance sector.
Mustafa Farid, Chief Executive Officer of DCG, said: "Our investment in Tamweel is part of our long term commitment and belief in the Islamic finance sector which is rapidly growing at the regional and global level. Tamweel is an industry leader and an established player in Islamic home finance. With Dubai Group's expertise in this sector, this increased stake creates more growth potential."