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Feb 18 2008

Mawarid backs Emiratisation drive

DUBAI, February 18 2008: Mawarid Finance will be strongly participating in the National Career Exhibition being held at Expo Centre Sharjah on March 5-6, as part of the company's goal to be among the leading companies that support Emiratisation in the banking and finance sector.

Mawarid 's workforce currently comprises more than 30 per cent UAE nationals, rising to more than 70 per cent in executive positions, which is considered a high rate for such a relatively new company as Mawarid intensifies its efforts to increase the number of local staff.

Fatima bin Fahad, Manager Administration and HR at Mawarid says the company seeks to attract young nationals by offering employment opportunities and continuous training and development programmes.

She stressed that Mawarid has set optimistic plans to play an effective role in encouraging leadership and excellence among qualified Emiratis.

Among these is the Tamaiaz Award, recently launched with an annual budget of one million dirhams, aiming to enhance innovation among university students and graduates.

Experts from different departments of the company will be present at the Sharjah expo to provide information and advice and answer questions related to the jobs market within the private banking and finance sector.

The company will also promote the Tamaiaz award so as to attract more participants and stimulate and reward excellent projects at the beginning of their careers.

Mawarid Finance is a private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirhams. The company plans to introduce a new vision within the Islamic finance sector to both retail and corporate customers in the region.

-Ends-

Mawarid Finance
Mawarid Finance is the only finance company in the UAE that is completely independent. The company's shares are distributed across 352 shareholders, with companies or organisations owning not more than 5% each of the capital and no individual shareholder's stake exceeding 2.5%, giving the company the operational freedom to secure a leading position in the Islamic banking market in the UAE.

Mawarid Finance specialises in the competitive development of Sharia'a compliant financial services, focusing on rapid growth through outstanding customer service.

Mawarid Finance is structured as an integrated financial institution that specialises in providing all services related to finance and business, responsive to the rapid growth taking place in Dubai and modelled on the spectacular development of Dubai and the UAE as a whole.

Mawarid draws its strength from a solid vision for the future articulated by a team of leading industry professionals, a close-knit network of strategic partners and business associates, and the financial backing and support of well-established shareholders.

Mawarid 's mission is to create superior and exceptionally innovative Sharia'a- compliant products and services, sustaining high-quality performance and maximising market share to become the first choice provider of Islamic financial solutions in a modern business environment.

For further information, please contact:
Maysoon Baraky or Yasmine Al Husseini
Milestones Marketing Communications
Tel: +971-(0)4- 3658491
Fax: +971-(0)4-3678097
E-mail: maysoon@milestonesmc.com or pr@milestonesmc.com

© Press Release 2008


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