Dubai Economic Development and Aafaq Sign Agreement

Islamic Financial Company Aafaq and Dubai Economic Development (DED) have signed an agreement to enhance economic development in the Emirates.

The agreement which was signed was a cooperation between the two companies to facilitate electronic  payments to Islamic financial branches based in Dubai. his initiative is part of the efforts of DED and  Islamic Finance Company (Aafaq) to enhance productivity, and save time and efforts for investors. As per  the agreement, Islamic Finance Company (Aafaq) will provide DED with electronic systems services to facilitate the review of banking settlements, and also present a weekly detailed report covering all transactions and procedures during the preceding week.

Mr Mohammed Hilal Al Muroushdi, CEO of Shared Services Sector, DED, and Mr Walid bin Hamad Al Mubarak,  Managing Director of Islamic Finance Company (Aafaq), signed the agreement. Officials from DED and  Islamic Finance Company (Aafaq) attended the ceremony held, recently, at DED headquarters in Deira. 

"DED is committed to strengthen customer service standards and enhance their ease of access to our  services. We are pleased to sign the agreement with Islamic Finance Company (Aafaq), which will contribute in enhancing the level of services further and enable our customers to process their documents electronically without having to visit DED offices," said Mr Al Muroushdi.

"We will provide added-value services to clients through eServices that easily facilitate the process of  attaining trade licenses, and thus give more flexibility for investors and customers," added Al Muroushdi.

Source

Article from Global Islamic Finance Magazine