Aug. 13 (Bloomberg) -- Tamweel PJSC, the United Arab Emirates' biggest mortgage provider, plans to raise as much as $500 million through Islamic asset-backed loans to fund new business, according to Chief Financial Officer Gaurav Agarwal.

``We're in discussion with a couple of international banks that could lead to this securitization transaction,'' Agarwal said in an interview, without naming the banks. ``We're in a high growth stage and our financing requirements are also growing. We'll probably go back to the market in October or November.''

The Dubai-based company has benefited from a real-estate boom in the Gulf region's second-biggest economy. Second-half profit may rise 15 percent from the first six months to as much as 455 million dirhams ($124 million), Tamweel said last week.
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