Tamweel says it has not received UAE central bank funding

Dubai mortgage lender Tamweel said on Wednesday it had not received funds from the central bank and did not need to draw on its funding facilities at this time.

"We have not received any funds from the central bank. We have access to the central bank facility and we will draw on it when the need arises," said Chief Executive Officer Wasim Saifi.

"The need has not arisen yet," he said.

Saifi also said the mortgage provider was in discussions with the central bank and the finance ministry on long-term funding options once its merger with rival mortgage lender Amlak had gone through.

"We are in talks with the public authorities about how to sustain and provide longer-term funding for the new entity after our merger with Amlak," he said.