“Aafaq Islamic Finance” visits Malaysia to form partnerships with global financial institutions FAA & ISRA

UAE, March 28, 2015 - Top executives of Aafaq Islamic Finance, a leading provider of Islamic finance products and services in the UAE, led by Managing Director Sheikh Faisal Bin Saud Al Qassimi recently embarked on a two-day visit to Malaysia to meet with officials of global institutions Finance Accreditation Agency (FAA) and International Shari’ah Research Academy (ISRA). Accompanied by CEO Dr. Mahmoud Abdelaal and Head of Subsidiaries Mohamed Ben Youssef, Sheikh Al Qassimi held separate meetings with FAA and ISRA to form new strategic partnerships with them and aiming to bolster Dubai’s Capital of Islamic Economy vision.

Aafaq initiated talks with FAA for the international accreditation of the professional certifications issued by its subsidiary, the “Institute of Finance and Management”. The subsidiary awards globally recognized certificates in partnership with respected organizations such as IIFM, IIRA, IICRA, and CPA Pakistan.  An accreditation by FAA, an independent quality assurance and accreditation body for the financial services industry, demonstrates that the certification complies with the highest quality system standards. 

The move will add value to the Islamic financial services industry’s search for quality certificates amidst the influx of commercial diplomas and certifications issued by various bank associations and institutions.

On the other hand, the company signed a Memorandum of Understanding (MoU) with ISRA, an established body whose role is to promote applied research in Shari’ah and Islamic finance, to strengthen research and development in these areas. Both meetings form part of Aafaq’s main goal of providing comprehensive Islamic financial services that meet market requirements and comply with global standards.

Sheikh Faisal Bin Saud Al Qassimi, Managing Director, Aafaq Islamic Finance, said: “Aafaq recognizes human contributions as cornerstones of all efforts towards sustainable growth. In light of this, the company has launched several initiatives aimed at enhancing human skills by providing structured and suitable learning and training environment. Our meetings with FAA and ISRA officials are consistent with this goal. Additionally, the visit also formed part of our expansion strategy and related Corporate Social Responsibility objectives. It was also in line with the UAE’s global vision to be a center of excellence. Overall, we are fully satisfied with the results of our visit to Malaysia and our fruitful dialogues with key officials.”

Established in 2006, Aafaq Islamic Finance aims to provide innovative Islamic financial services and products that comply with Islamic Shari’a across the UAE and the region. Aafaq exists on the list of major financial institutions that offer a variety of high-quality financial services for institutions.