New branch to provide customers with the entire range of Islamic financial services
Dubai, United Arab Emirates, 3 October 2007 -Badr Al-Islami Finance Co. (PJSC), a subsidiary of Mashreq, officially opened the doors of its first main branch to offer its customers a full range of products including retail, investment and corporate banking services in accordance with Islamic Shari'a principles.
The inauguration took place today in the presence of Dr. Mohammed Khalfan Bin Kharbash, Minister of State for Finance and Industry-UAE, Mr. Abdullah Al Ghurair, Chairman & President of Mashreq Group, Mr. Mubashar Khokhar, CEO of Badr Al-Islami, and senior management and customers of Badr Al-Islami. Located in Al Masood Building on Dubai Airport Road, the opening of the main branch in the UAE represents a significant milestone in the institute's history.
"It is very encouraging to see big financial institutions, such as Mashreq, moving to provide Islamic financial solutions to retail and corporate clients. Islamic banking is spreading more and more in the United Arab Emirates, which is a very healthy sign." Dr. Kharbash commented. "With the strong economy of UAE, supported with strong banking equity, there is more need for innovative financial solutions that cater to all segments".
From his side, Abdullah Al Ghurair said: "We are delighted to announce the opening of our first main branch in this commercially active area. This opening reflects Badr Al-Islami's position within an increasingly competitive Islamic segment and which is the fastest growing industry in the UAE."
The main branch is open from Saturday to Thursday from 8am until 4pm and will be operated by highly qualified professionals with an in-depth understand of clients needs and requirements for Islamic financial services.
"We will continue to deliver the best Islamic products to our customers to maintain our market leadership" said Mubashar Khokhar. "Our focus is on meeting and exceeding our customer needs and ensuring that we deliver Shari'a compliant financial products and solutions to sustain the requirements of its customers."
"Badr Al-Islami is a stand alone Islamic financial organization with full operational services that will give customers greater assurance that their banking transactions will be done in accordance with Shari'a principles" continued Mubashar.
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About Badr Al-Islami
Badr Al-Islami Al-Islami is an independently managed business comprising Badr Al-Islami Al-Islami Finance and Badr Al-Islami Al-Islami Banking. Badr Al-Islami Al- Islami Finance, which is majority owned by Mashreq, is a private joint stock Islamic Finance Company. Badr Al-Islami-Al Islami Banking is the Islamic Banking Division of Mashreq.
© Press Release 2007
