Aafaq Islamic Finance Launches New Flexi Wakala Deposit

Dubai, UAE – 24 July, 2024

Aafaq Islamic Finance, a leading provider of Shariah-compliant financial products and services, announces the introduction of its latest product – the Flexi Wakala Deposit. This innovative offering provides businesses with unparalleled flexibility and the potential for high earnings on their investments.

The Flexi Wakala Deposit allows businesses to deposit funds for both short and long terms, with the freedom to make payments, withdrawals, or utilize part of the deposit for immediate needs. With no maximum limit and a minimum deposit amount of AED 10,000, clients have the flexibility to tailor their investments to suit their unique requirements. Additionally, they can choose a tenure ranging from 14 days to a maximum, providing further customization options.

Hisham Hammoud, CEO of Aafaq Islamic Finance, emphasized, “Our new Flexi Wakala Deposit empowers businesses in the financial industry in the UAE to optimize their finances and achieve their goals. We are committed to providing solutions that meet the evolving needs of our clients, and this product underscores that commitment, especially amidst the dynamic growth of the financial sector in the UAE.

From her end, Banan Saadeh, Head – Corporate Liabilities at Aafaq Islamic Finance, added, ‘The Flexi Wakala Deposit represents our dedication to providing innovative solutions tailored to the evolving needs of businesses. With its flexible terms and high potential returns, it stands as a testament to our commitment to empowering our clients.’

Aafaq continues to demonstrate its dedication to providing cutting-edge financial products and services that empower businesses to thrive and succeed. This latest offering reinforces Aafaq’s position as a leader in the Islamic finance sector, providing tailored solutions to meet the diverse needs of businesses in today’s dynamic market environment.

Profit rates for the Flexi Wakala Deposit are calculated based on the number of days funds are invested with Aafaq, ensuring that clients can maximize their returns. Furthermore, with a termination notice period of just 2 business days, accessing funds is swift and hassle-free.

For more information about the Flexi Wakala Deposit and other offerings from Aafaq Islamic Finance, please visit www.aafaq.ae