Aafaq Islamic Finance, a leading provider of Shariah-compliant financial products and services, has partnered with Rasmala, a prominent regional investment management firm, to develop and expand product offerings for Aafaq’s clients and to advise Aafaq on its proprietary investment book.
The partnership agreement was signed by Mr. Hisham Hammoud, CEO of Aafaq Islamic Finance, and Eric Swats, CEO of Rasmala, at a ceremony held at Aafaq's headquarters in Dubai. The signing was also attended by other senior officials from both companies.
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.”