Mawarid Finance: Innovating Islamic Finance Solutions for a Prosperous Future

Mawarid Finance is one of the leading Shari’a-compliant financial service providers in the heart of Dubai, where modern finance meets traditional values. It was established in 2006 with a paid-up capital of AED 1 billion. It is a private joint stock company and has carved a niche for itself in the Islamic finance sector. Mawarid Finance stands out with its unwavering commitment to providing products and services on Islamic financial principles like Ijarah, Murabaha, and Musharaka. The firm is run by a complete Sharia board, which makes sure that all the offers made are strictly based on the tenets of Shari’a, thus instilling trust and credibility in the eyes of its customers.

Being the only independent finance company in the UAE, Mawarid Finance operates under a unique setup of ownership structure, that is, it distributes the shares among over 350 shareholders. Such an innovation allows for the freedom in operations with no single unit holding more than 5% of the capital; this framework enhances governance besides empowering Mawarid to respond promptly to what its customers require. The company’s slogan, Falak Tayyeb, meaning “Consider it done,” is a statement that the company is fully devoted to fast, personalized service and ensures that the client receives prompt and efficient solutions tailored to his financial requirement.

Mawarid Finance is passionately committed to fostering economic development within the UAE. Being aware of the fact that SMEs are the most significant chunk of the national economy as they constitute approximately 85% of the total number of registered businesses, the company has come up with the Falak Tayyeb for SMEs initiative. The scheme is directed at the support of the financial sectors to the growth of SMEs and the integration into the larger economy. Such financing investments of AED 600 million for this campaign show that Mawarid Finance is not only the provision of capital but engagement in local business empowerment processes, creating jobs and therefore contributing to economic resilience as well.

Mawarid Finance also supports Emiratisation policy, one of which is the utilization of the employment of local UAE nationals. Indeed, with over 30% of its workforce comprising Emiratis and over 70% at the executive level, it is obvious that Mawarid has been highly devoted to national development. This is a far cry from the overall UAE private sector in which the representation of Emiratis is significantly low. As Mawarid Finance focuses on the development of local talent, it further enhances its organizational capacity but also invests in the future of the UAE economy.

Mawarid Finance is all about innovation in its core business. In 2008, it launched eMurabaha-the first-of-its-kind e-platform to assist clients in administering funding requests and transactions that are compliant with the principles of Sharia. This concept received much appreciation and bagged the “Idea of the Year” prize at Ideas.Arabia 6th International Conference in 2011. Such products, innovatively designed and executed by the company, speak for a forward-looking vision that understands how best to apply the power of technology for its customers.

Mawarid Finance has expansion efforts through strategic partnerships and investments. For instance, in 2007, the company ventured out of the UAE by investing in First Investment Bank in Bahrain. It also partnered with prominent real estate developers such as Cayan, offering Islamic financing options for luxury projects. These collaborations are made to enhance accessibility to Shari’a-compliant financing, enabling clients to realize their aspirations without compromising their values.

Mawarid Finance has diversified its service provision over the years by adopting strategic acquisitions and introducing other services, such as Arbah Investment Club on opportunities for Islamic investment, establishing Mawarid Consultancy, which renders outsourced Islamic banking and Takaful services. This expansion underlines the determination of Mawarid to build a wholesome financial ecosystem that caters to the diverse needs of their clientele.

Because Mawarid Finance continues to grow it finds itself focusing more steadfastly on innovative Shari’ah-compliant solutions tailored to empower the different dimensions of individuals and companies as well. As long as Mawarid Finance champions economic development; facilitates Emirati talents to grow; and endorses technological advancements, such strides are not merely wading through the muck within the financial arena.