Aafaq Islamic Finance and Rasmala joins to drive sustainable and innovative investment growth in UAE
Leading supplier of Shariah-compliant financial products and services, Aafaq Islamic Finance, has teamed with Rasmala, a well-known regional investment management company, to create and broaden product options for Aafaq's clients and to provide guidance on Aafaq's in-house investment book.
At a ceremony conducted at Aafaq's offices in Dubai, Mr. Hisham Hammoud, CEO of Aafaq Islamic Finance, and Eric Swats, CEO of Rasmala, signed the collaboration agreement. Several senior representatives from both firms were present for the signing as well.
Commenting on the partnership, Mr. Hisham Hammoud, CEO of Aafaq Islamic Finance, said: “We are delighted to partner with Rasmala, a well-respected and successful investment management firm. This marks an important milestone in our ongoing efforts to expand and diversify our product offerings, and to collaborate with industry leaders to enhance our capabilities and market reach.”
Eric Swats, CEO of Rasmala, added: “We look forward to working closely with Aafaq in developing innovative investment solutions for the UAE market. Rasmala will structure an investment savings plan linked to a Shariah-compliant investment portfolio with plans to raise over AED 1 billion from 100,000 investors. This collaboration represents a great opportunity for us to work together to drive innovation and to expand our businesses in the UAE. We look forward to exploring new avenues for growth with Aafaq.”
Mr. Hammoud added, “This partnership reflects the shared vision of both firms to develop a sustainable and inclusive financial ecosystem that caters to the evolving needs of clients in the UAE."