Page 432 - Sustainable Cities and Communities Design Handbook
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402 Sustainable Cities and Communities Design Handbook
capital. The paid-up capital of a finance company should not be less than 35
million AED and national shareholding should not be less than 60% of total
paid-up capital, without prejudice to provisions of Federal Law No. 8 of 1984
and any subsequent amendments.
The number of finance companies licensed to operate in the UAE increased
from 23 in 2010 to 24 in 2011, because of a license given to AMEX (Middle
East) BSC.
Finance Companies in the UAE (2011)
1. Osool “A Finance Company” LLC, Dubai
2. Gulf Finance Corporation, Dubai
3. HSBC Middle East Finance Co. Ltd., Dubai
4. Maf Orix Finance P.P.C., Dubai
5. Finance House P.J.S.C, Abu Dhabi
6. Dubai First P.P.C., Dubai
7. Reem Finance P.J.S.C., Abu Dhabi
8. Majid Al Futtaim JCB Finance L.L.C., Dubai
9. A1 Futtaim GE Finance P.P.C., Dubai
10. Dunia Finance L.L.C., Abu Dhabi
11. Abu Dhabi Finance P.P.C., Abu Dhabi
12. Amlak Finance P.J.S.C., Dubai
13. Tamweel P.J.S.C., Dubai
14. Al Wifaq Finance Company P.P.C., Abu Dhabi
15. Mashreq Al Islamic Finance Co. P.P.C., Dubai
16. Islamic Finance Co. P.P.C., Dubai
17. Aseel Finance “Aseel” P.P.C., Abu Dhabi
18. Mawarid Finance P.P.C., Dubai
19. Abu Dhabi National Islamic Finance P.J.S.C., Abu Dhabi
20. Islamic Finance House, Abu Dhabi
21. Emirates Money Consumer Finance, Dubai
22. Abu Dhabi Commercial Islamic Finance Company P.P.C.,
Abu Dhabi
23. Siraj Finance Company P.P.C., Abu Dhabi
24. Amex (Middle East) B.S.C., Dubai
Based on www.centralbank.ae.
One new investment company was issued a license in 2011, namely,
Masdar Investment, 79 thereby increasing the number of licensed investment
companies from 21 in 2010 to 22 in 2011.
Financial Investment Companies (2011)
1. Oman & Emirates Investment Holding Co., Abu Dhabi
2. Merrill Lynch International & Co. C.V., Dubai
3. Emirates Financial Services, Dubai
4. Shuaa Capital P.S.C., Dubai
5. The National Investor, Abu Dhabi
79. http://www.masdar.ae/en/home/index.aspx.