March 2009 The UAE government has almost completed a plan on how to restructure troubled Islamic mortgage lenders Amlak Finance and Tamweel, the economy minister said yesterday. "Everything is under control and discussions are going on," Sultan bin Saeed Al Mansouri added, declining to give details. Mansouri heads a committee set up earlier this year to determine how to move forward with the two mortgage finance companies that have been struggling amid a real estate market downturn in Dubai. In November, the government said it intended to merge Amlak and Tamweel with two state-run banks into Emirates Development Bank. But Mansouri said earlier this year a merger was only one option being looked at.

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