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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.
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