Press Releases

Badr Al-Islami launches a Shariah Compliant Product to finance trading in listed shares

www.zawaya.com, December 9, 2006

The recently launched, Badr Al-Islami, announced the launch of a new Shariah compliant product which avails financing services for it customers who wish to trade in shares listed in Dubai and Abu Dhabi stock exchanges. Badr Al-Islami managed to secure approval of its' Shariah Board for this innovative product, which is the first of its' kind in the UAE. 

The team of experts in Islamic financing in Badr made great efforts to introduce this service, making it easy for investors to use and benefit from. All the procedures were fully approval by the Shariah Board on all the details of the product.

Mr. Mobasher Khokhar, CEO of Badr Al-Islami said: "The success of any Islamic finance company is based on innovation and introduction of new services, keeping in line with Islamic Banking rules and regulation. We believe this new services will be successful for it gives the investors the flexibility and strength to invest in the stock market".

Taha Ahmed Eltayeb, Vice President, Badr Al-Islami, said: "Before the introduction of this service to our clients, we have considered that the clients' funds are safe in case of serious loss due to fall in stock market prices. With this service we delegate client to buy and sell share. Re -payment period, which is between one month and twelve months, gives the client flexibility in controlling their trading. We made sure our product is clear and simple for our investors to use."

Badr Al-Islami is licensed from the UAE Central Bank to start its services with a Capital of Dhs500 million. The company will provide a full range of Islami financing services, including: retail, Corporate and investment banking services.