Aafaq - Islamic Finance signed a strategic membership agreement with DMCC by June 2014.
As a member of the DMCC Tradeflow platform, Aafaq has expanded its scope of services in commodity Murabaha to cover financing requirements to its Retail Customers, and as well as to small & medium projects clients.
The Tradeflow platform enhances the electronic Murabaha operations for goods trading, in order to support the treasury transactions. The successful execution of Commodity Murabaha transactions is further reflecting abidance of innovation and leadership in Islamic banking operations sector in the state, and also enhances the fleet of Islamic financial services offered by the Aafaq Islamic Finance Company.
Which include the provision of financing opportunities for companies and individuals. In addition to Finance we provide electronic payment services including flight bookings at our outlets across the United Arab Emirates, further the branches cater to services related to Dubai Department of Economic Development (DED) and Tas’Heel Centers.
The introduction of new Islamic financial services of this nature reflects the commitment of aafaq Islamic Financing to be innovative & offer sharia compliant products and services to both segments of organizations and individuals. The ongoing developments represents the hard pursuit of aafaq vision to be one of the actively participating financial institutions, envisaging the initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum to make Dubai the capital of Islamic economics. In collaboration with the competent authorities as Dubai Center for the development of Islamic Economics and DMCC Center aafaq is promising to be an integral part of the development.
The management of DMCC trade flow platform ensures to provide the required business support to aafaq in the coming years, which in return will contribute to DMCC trade flow platform overall business efforts in making Dubai the capital of the Islamic economy. The platform also helps to enhance the level of compatibility with Islamic sharia financial services and provide the best and latest electronic services for prospective Customers.