Complex Made Simple

Union National Bank joins the DMCC Tradeflow platform

Union National Bank has joined the DMCC Tradeflow platform, in order to conduct Commodity Murabaha transactions for Corporate Customers dealing according to Sharia guidelines.

Mr. Ayman Adel Kamal, Executive Vice President at UNB, said”We are delighted to collaborate with DMCC and to be part of this advanced solution. The successful implementation of this service highlights UNB’s strategy to expand its Sharia compliant offering.

DMCC Tradeflow is an advanced solution and the electronic platform shallenable us to create operational efficiencies and allow us to improve execution of our transactions”.

Paul Boots, Director, DMCCTradeflow, said: “We welcome Union National Bank to our corporate community and look forward to supporting their growing business in the coming years. The increasing number of trading participants and transaction volumes on our platform is testament to the market acceptance of our dedicated products and services. We will continue to work with all industry participants to provide the commodity focused solutions they require to further enhance efficiency and transparency for all involved parties.”

DMCC Tradeflow supports Dubai’s ambition to become the capital of Islamic finance by providing the commodity base and electronic trading infrastructure required to facilitate Shariah compliant legal title transfer of commodities stored in the UAE.The platform allows for electronic transfer of ownership through tradeable warrants, which are certificates of ownership issued by independent warehouses that guarantee the physical existence of commodities.