Mawarid plans launch of unique e-service

Dubai: Mawarid Finance plans to launch the new service 'e-Murabaha', the company announced at a press conference on Monday.

This new service is considered the first of its kind worldwide and aims to provide support and facilities for small and medium enterprises (SMEs) in a creative way, through electronic disciplines that provide convenience and all the necessary facilities for business transactions.

The press conference was attended by Mohammad Mosabah Al Nuaimi, chief executive of Mawarid Finance. Also attending were Entisar Al Suwaidi, vice-chairman and managing director, Universal Payment Services (UPS) -Kuwait, which developed the system, Sa'ad Doukali, head of business development and marketing, UPS, and both parties project teams.

On the occasion of preparing this new service, Al Nuaimi said, "We promised our customers, since the foundation of the company, new and advanced Islamic financial services. We are now implementing our promise through announcing the start of the performing stage for the new service 'e-Murabaha', which is considered the first worldwide, and this shows that Mawarid Finance is a pioneer in the field of creative products and services."

Improving offers

Al Nuaimi added, "It's the duty of every banking organisation that works along with the Islamic Sharia, to work on improving services. And instead of working on achieving success through providing available products, working on finding solutions and new products so that Islamic financing can compete with traditional financing.

This new service is a part of range of services provided by Mawarid Finance through which we aim, as well as with future initiatives, to provide individuals and companies with the best financing services that comply with the Islamic Sharia."