RIYADH: Islamic real estate financier, Amlak Finance has reported a 552 percent increase in net profit of AED1.08 billion ($294 million) for the first nine months of 2021, compared to a loss of AED239 million a year ago.
Amlak’s income for the third quarter of 2021 has also increased by 367 percent to AED 1,248 million, up from AED 267 million in the same period last year.
The increase in income is attributed to arbitration settlements and debt settlement arrangements.
