Mawarid Finance launches Fatwa Book on Mawarid 10th Anniversary

DUBAI: Mawarid Finance has recently launched a Book titled “Shariah Fatwas of Mawarid Finance”. Published by the Shariah Department at Mawarid Finance, the book consists of series of the top Islamic sharia opinions (fatwa) issued by the Sharia Board on the banking and financial transactions throughout the last ten years.

The book has been reviewed and approved by senior Shariah Scholars at the Dubai Islamic and Charity Affairs Department and the National Media Board; made of 213 pages that feature the most important sharia decisions issued by the Sharia Board since the launch of Mawarid Finance in 2007.

The researchers have made considerable efforts on collection, revision, documentation, indexing and referencing of the contents to make it easier and interesting for the readers. The book topics have been collected by Dr. Ahmed Al Marzooqi, Head of Shariah Department at Mawarid Finance and designed by Graphic Designer Ms. Farah Al Ali, one of the talented Emirati graduates who joined Mawarid Finance workforce.

Mohamed Al Nuaimi, CEO Mawarid Finance who commented on this said: “We are glad to launch the first edition of this book, and more editions will be published in future. This book is released as Mawarid Finance completes ten years of operations, it translates the vision of Mawarid Finance to become a leading Islamic Finance institution in the region and plays a vital role in development and enhancement of the Islamic Finance Industry. It includes all the Islamic legal opinions associated to the products and services provided by the company which meet the Sharia standards and principles. The book shall be distributed to universities, colleges, students, researchers and other relevant bodies in the field of Islamic Finance”

Dr. Ahmed Al Marzooqi, Head of Sharia Department at Mawarid Finance gave a brief presentation on the book’s topics. He stated that Part One of the book featured an introduction to Mawarid Finance Sharia Board, listing the Board achievements throughout the last ten years, while Part Two focused on the financial products and services provided by Mawarid Finance and the Sharia opinion that support the compliance of the transactions and innovated products with the Islamic Sharia standards.

He added that the book is divided into sections according to the topics including ijara, investment, insurance, zakat, security deposit, murabaha, wakalah, accounts and banking services in addition to the miscellaneous issues that have been covered.

Mawarid Finance is a private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of AED one billion. The company was founded with a vision to become a leader within the Islamic finance sector and deliver best-in-class service to both retail and corporate customers. We are proud to say that this vision is bearing fruit with much more to come.