In his inaugural speech, Chairman Omran Sultan Abdullah Al Owais said that the company's goal is to create superior and innovative Sharia'a compliant products and services that cater to individuals and companies.
He told guests: "Mawarid draws its strength from a solid vision for the future articulated by a team of leading industry professionals who have been carefully selected on the basis of their diverse expertise in different aspects of Islamic finance and customer services."
The company's plans include an expansion of the range of product services and branch network in the UAE as well as exploring opportunities regionally whenever it sees growth opportunities in external markets and after building strong foundations in the UAE.
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Mawarid Finance with Dhs1bn paid up capital launches in the UAE
- United Arab Emirates: Thursday, September 06 - 2007 at 16:49
- PRESS RELEASE
Mawarid Finance, a new private joint stock Islamic finance company with a paid-up capital of one billion dirhams, was officially launched in Dubai on 5th September 2007 at a ceremony at the Emirates Towers hotel in Dubai attended by a large number of business and social figures.
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Notes and media contacts
For more information, please contact:Noura Souki
Milestones Marketing Communications
Tel: +971-4-3914867
Fax: +971-4-3678097
Mawarid Finance
Mawarid Finance is a private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirhams. The company plans to introduce a new vision within the Islamic finance sector to both retail and corporate customers in the region.
Mawarid Finance is the only finance company in the UAE that is completely independent. The company's shares are distributed across more than 350 shareholders, with companies or organisations owning not more than 5% each of the capital and no individual shareholder's stake exceeding 2.5%, giving the company the operational freedom to secure a leading position in the Islamic banking market in the UAE.
Mawarid Finance specialises in the competitive development of Sharia'a compliant financial services, focusing on rapid growth through outstanding customer service.
Mawarid Finance is structured as an integrated financial institution that specialises in providing all services related to finance and business, responsive to the rapid growth taking place in Dubai and modelled on the spectacular development of Dubai and the UAE as a whole.
The Strength of Mawarid Finance derives from the exceptional talent vested in its personnel- dedicated and seasoned professionals with long experience and know-how in the modern financial services sector within different geographical services locations, and a deep knowledge of Islamic finance. They drive the company's ambitious growth strategy in operations, sales and marketing, and communications, using their exceptional capabilities to accurately implement corporate plans.
The company maintains a close-knit network of strategic partners and business associates, and the financial backing and support of well-established shareholders.
Mawarid's mission is to create superior and exceptionally innovative Sharia'a- compliant products and services, sustaining high-quality performance and maximising market share to become the first choice provider of Islamic financial solutions in a modern business environment.
Contact Mawarid Finance
P.O.Box: 212121
Dubai
Phone:+971 4 304 0888
Fax : +971 4 321 9797
800 MAWARID
Posted by Medilyn Manibo, Assistant News EditorThursday, September 06 - 2007 at 16:49 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue Oct 30 2007.
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