News Column

Al Wifaq Finance Company joins the DMCC Tradeflow platform

June 11, 2014

Al Wifaq Finance Company, the Islamic subsidiary of Union National Bank has joined the DMCC Tradeflow platform, in order to conduct new Commodity Murabaha transactions for their Retail and SME Clients.

Mr. Zuhair Sulaiman, General Manager, Al Wifaq, said: "We are delighted to collaborate with DMCC and to be part of this advanced solution. The successful execution of these transactions highlights Al Wifaq's innovation and leadership in the Islamic banking industry."

"Undoubtedly, the initiative also reflects our commitment to offer innovative financial products and services to both organizations and individuals alike, in compliance with the rules and principals of the Islamic Shari'ah."

"DMCC Tradeflow is an innovative solution on the market and the electronic platform has enabled us to create operational efficiencies that help us in providing the best possible service to our clients," Zuhair added.

Paul Boots, Director, DMCC Tradeflow, said: "We are pleased to welcome Al Wifaq Finance Company to our 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 increased market adoption of our dedicated products and services. We will continue to work with all industry participants to provide innovative commodity focused solutions that will increase efficiency and transparency for all involved parties." 

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Source: CPI Financial

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