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HE Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre, said:
"Over the past few years, Islamic Finance has significantly widened its global appeal and gained profile as a viable alternative financial system. DIFC clearly recognises the vast growth potential of Islamic Finance and is keen to accelerate its development regionally and globally. Companies like Arabian Capital Investment & Finance Company will add to the depth and diversity of the Islamic Finance sector within DIFC."
Ahmed Farrag Omran, Senior Executive Officer of ACIFC, said, "We are delighted to have received this license as it emphasises our commitment to operating within a transparent and efficient regulatory framework. DIFC will provide ACIFC with a strong regulatory platform from which we can implement our business plan and also reach a wider audience of clients and investors."
The new company established in DIFC is 100% owned by Arabian Capital Investment & Finance Company, an Islamic Investment Company incorporated in accordance with the Kuwait's Commercial Companies Law No. 15 of 1960 and the amended laws supervised by the Central Bank of Kuwait with a paid up capital of KD16.7m ($60m). The Company provides contemporary Sharia-compliant investment and financial services and products.
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Posted by Siba Sami Ammari
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