About Aafaq Islamic Finance
Aafaq Islamic Finance is a Dubai-based finance company that provides financing in line with Islamic principles. Unlike a bank, a finance company in the UAE focuses on lending rather than taking deposits, and it is licensed and supervised by the Central Bank of the UAE.
Islamic finance avoids interest. Instead, financing is structured through contracts such as Murabaha, where the finance company buys an asset and sells it to the customer at an agreed profit, or Ijara, a leasing arrangement in which the customer pays rent and may eventually own the asset.
Typical products include vehicle financing, property and home financing, personal financing for needs such as education or travel, and financing for small businesses and corporate clients.
Finance companies often serve customers who need flexible solutions or who are underserved by banks, such as small business owners or self-employed residents.
Sharia supervisory boards review products to confirm they comply with Islamic rules, which gives customers confidence that the financing matches their beliefs.
Demand for Islamic finance is strong in the UAE, where many customers prefer Sharia-compliant options and the government has promoted Dubai as a capital of the Islamic economy.
Startups UAE lists Aafaq Islamic Finance among the UAE's Islamic finance providers.
Islamic finance avoids interest. Instead, financing is structured through contracts such as Murabaha, where the finance company buys an asset and sells it to the customer at an agreed profit, or Ijara, a leasing arrangement in which the customer pays rent and may eventually own the asset.
Typical products include vehicle financing, property and home financing, personal financing for needs such as education or travel, and financing for small businesses and corporate clients.
Finance companies often serve customers who need flexible solutions or who are underserved by banks, such as small business owners or self-employed residents.
Sharia supervisory boards review products to confirm they comply with Islamic rules, which gives customers confidence that the financing matches their beliefs.
Demand for Islamic finance is strong in the UAE, where many customers prefer Sharia-compliant options and the government has promoted Dubai as a capital of the Islamic economy.
Startups UAE lists Aafaq Islamic Finance among the UAE's Islamic finance providers.