A cooperation agreement between Ajman DED and "Aafaq" Islamic Finance

Feb
25

The Ajman Department of Economic Development (DED) signed today a cooperation agreement with the "Aafaq" Islamic Finance (Aafaq) which comes within the framework of Ajman DED's keenness to realize its vision and mission that aims at achieving a sustainable competitive economy based on knowledge and innovation. The agreement also confirmed the two parties' desire to build and strengthen cooperation relations between them to effectively create a distinct partnership and create integration in common areas of work in a way that serves local and federal trends. This comes in line with Ajman DED's sought to achieve comprehensive and sustainable economic development in the Emirate, which is in harmony with the "Aafaq's" approach, which is concerned with providing financing and credit solutions and supporting various economic establishments.

Abdullah Ahmed Al-Hamrani, the Director-General of the Ajman DED, said that the Department always seeks to provide support to entrepreneurs and investors, and provide an attractive and appropriate economic and investment environment for various segments of investors. In addition, it aims to enhance cooperation between the public and private sectors, which would support entrepreneurs and investors to increase their ability to face challenges, obstacles, and risks that may affect the viability of the investment market in the Emirate, in a way that enhances investor confidence in the Emirate's economy.

The Director-General of the Ajman DED explained that the first phase of the partnership with "Aafaq" includes financing troubled establishments and providing financial and credit support that will enable them to remain in the investment market, provided that the strategic partnership with the Company is developed to include more in-depth and comprehensive services for all sector and services provided by the Ajman DED.

For his part, CEO of "Aafaq" Islamic Finance, Rashid Mahboob Al Qubaisi, said that "Aafaq" welcomes the strategic partnership with the Department, as it is a local government authority with a strategic orientation to support economic development in the Emirate of Ajman. This is consistent with "Aafaq's" orientations , which is a strategic partner for many federal and local authorities. We also seek to support the local economy of the United Arab Emirates by supporting SME projects. We always strive to provide financial and credit solutions at various levels for individuals and institutions to achieve support for our beloved country.

For his part, CEO of Aafaq Islamic Finance, Rashid Mahboob Al Qubaisi, said that the Company welcomes the strategic partnership with the Department of Economic Development, as it is a local government authority with a strategic orientation to support economic development in the Emirate of Ajman. This is consistent with Aafaq's orientations , which is a strategic partner for many federal and local authorities. We also seek to support the local economy of the United Arab Emirates by supporting SME projects. We always strive to provide financial and credit solutions at various levels for individuals and institutions to achieve support for our beloved country.



Top