please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages the neutrality of this article is disputed . relevant discussion may be found on the talk page . please do not remove this message until conditions to do so are met . august 2012 learn how and when to remove this template message this article contains wording that promotes the subject in a subjective manner without imparting real information . please remove or replace such wording and instead of making proclamations about a subject s importance use facts and attribution to demonstrate that importance . august 2012 learn how and when to remove this template message learn how and when to remove this template message mawarid finance type private joint stock company pjsc industry shari a compliant financial services founded 2006 headquarters dubai united arab emirates key people omran sultan abdullah al owais chairman abdul ghaffar al sayed mohammed al hashimi deputy chairman mohamed ali musabbeh al neaimi ceo services floos services for smes floosi individual cash facility working capital damanat labor guarantees letters of guarantee goods finance e murabaha wakala investments share finance trust account invoice finance commercial office finance business account sayyarat mawarid auto finance aqarat mawarid home finance total assets aed 1.18 billion 1 total equity aed 0.99 billion 2 subsidiaries ifs al jazeera financial services takaful house mfi investments tamaiaz website http www.mawarid.ae mawarid finance is a private joint stock company in dubai uae providing shari a compliant financial services . it was founded in 2006 with a paid up capital of aed 1 billion . 3 all of its products are based on islamic financial principles such as ijarah istisnaa murabaha mudharaba musharaka kafalah and wakala and its practices are governed by a full sharia board . it is the only finance company in the uae that is completely independent . in an effort to give itself operational freedom its shares are distributed across more than 350 shareholders with companies or organisations owning not more than 5 % each of the capital and no individual shareholder s stake exceeding 2.5 % 4 the company markets itself with the tagline falak tayyeb in arabic which in english roughly translates as consider it done . this symbolizes its commitment to fast and personalized service . 5 mawarid s primary goal has been to support and participate in the development of the uae economy by supporting small and medium businesses smes which comprise 85 % of the companies registered in the uae . 6 to this end it spearheads a successful falak tayyeb for smes campaign . actively encouraging uae nationals to participate in the nation s development through a policy of emiratisation . emiratis comprise more than 30 % of mawarid s workforce and their percentage rises to more than 70 % in executive positions . 7 this is in contrast to the 0.34 % average in uae s private sector . 8 contents 1 company innovation 2 significant achievements 3 company history 3.1 2007 3.2 2008 3.3 2009 3.4 2010 3.5 2011 4 social responsibility 5 references 6 external links company innovation edit a unique product called emurabaha was launched in 2008 which allows a customer to request follow up and manage funding online through a fund management system following the islamic mode of murabaha . 9 in 2011 this product won the idea of the year award at the ideas.arabia 6th international conference . 10 mawarid partners with alaswaq alarabiya of al arabiya news channel on the first e portal of its kind myislamicfinance.com dedicated to providing information and serving as a directory of islamic finance products and services . 11 apart from its falak tayyeb campaign which is the only local phrase to be used as a brand tagline in the region it uses the origami art form in its product branding . this serves as a visual metaphor for not only the precision and intricate care that the company has taken with its customised products but also the blank page that mawarid finance shares with its customers before building their future . 12 significant achievements edit mawarid finance has had the following achievements earning the brand recognition 13 14 gained iso 9001 certification in 2008 . won the bizz arab business excellence award by the world confederation of businesses in 2008 . 15 won a dubai human development award in 2008 . 16 won human resources development sharjah award in 2008 for achieving the highest rate of emiratisation compared to thirteen other working financial corporations in the market . awarded best home finance provider at the 2008 cpi financial awards organised by the islamic business and finance magazine from cpi financial . 17 voted a superbrand in 2009 and 2010 by uae superbrands council . mawarid stayed in the list in 2010 even though several luxury brands and banks were dropped from the top brand lists due to the global economic crisis . 18 only private company to be awarded the emirates social award 2010 by the ministry of social affairs uae . 19 won dubai quality appreciation award 2010 in the finance category by the department of economic development dubai . awarded idea of the year 2010 by the dubai quality group at the ideas.arabia 5th international conference for the man model designed by mawarid ceo mohamed ali musabbeh al neaimi . the man model is an integrated system for decision making risk management and pricing strategy for financial institutions . 20 gold category winner of idea of the year 2011 for emurhabaha at the ideas.arabia 6th international conference organized by the dubai quality group . 21 company history edit 2007 edit moved outside uae by becoming one among the establishing investors who set up first investment bank an islamic investment company in bahrain . 22 authorized by uae s ministry of finance and industry to provide automatic registration of bank guarantees issued in favour of the ministry of labor through the e dirham system . 23 platinum sponsor of the 9th middle east international motor show offering the longest auto loan tenor of 72 months in the uae . 24 research conducted by mawarid during the auto show showed that a bmw is the dream car in the uae while emiratis fantasy is a bentley . 25 teamed with eta star to provide ijara financing to customers buying units in eta s centrium project . in ijara the title is transferred to the buyer upon contract fulfillment . 26 2008 edit mawarid announced the launch of its services for small and medium enterprises smes while sponsoring the 2nd young businessmen forum in ras al khaimah . these services include goods finance car finance machinery finance office purchasing finance investments fixed deposits bank guarantees labour guarantees and stock buying finance . 27 along with the mohammed bin rashid establishment for young business leaders it began a campaign to support youth enterprise . the falak tayyeb for smes campaign with an investment of aed 600 million from mawarid in 2008 would enable both parties to share databases with the goal of providing innovate islamic financial services to this crucial sector . 28 subsequently mawarid has organized many discussion forums with both the government and private sectors including entering into an mou with the ajman businesswomen council in 2009 29 30 31 32 and joined the arab union for small enterprises . 33 this campaign has received much support and appreciation in the region . 34 acquired a 1 % stake in egypt telecommunication company etisalat misr . 35 appointed as account trustee for all property development guarantee accounts approved by the dubai land department . mawarid was chosen because of its expertise in the area and its shari a compliance . 36 partnered with real estate developers cayan to provide islamic finance for buyers in cayan projects . the latter is credited with projects like the infinity tower a luxury twisting tower with panoramic views of the arabian ocean . 37 officially categorized as a bank operating in the uae when it was authorized to issue certificates of deposit by the dubai department of economic development . 38 entered into an mou with the uae ministry of health to provide the health fund both financial and logistic services on an annual basis . 39 mawarid subsidiary mawarid acquired al jazeera financial services a private equity company specializing in financial intermediation and investment in shari a compliant stocks on both adx and dfm . 40 dar al takaful takaful house a joint stock islamic insurance company of which mawarid is the main founder went public in july 2008 . 41 2009 edit received further support in its falak tayyeb for smes campaign when it signed mous with talal abu ghazaleh international 42 and ruwad establishment . 43 chosen by the arab science and technology foundation astf and the arab union of small enterprises ause to organize the first arab industrial enterprises competition for smes . the competition with an award allocation of 850 000 aims to encourage and inspire the arab youth to establish new industrial enterprises . 44 announced a tie up with the uae government to set up a central body to oversee and promote smes in the region while continuing to hold forums on the initiative . 45 46 2010 edit launched a new scheme arbah investment club offering islamic investment opportunities for its customers . 2011 edit mawarid subsidiary mawarid launched ifs which provides banks private companies and the government with islamic banking and takaful outsourced services . 47 rehab lootah mawarid s head of business development products and corporate communications the first woman recipient of cima s islamic finance certificate 48 and also the recipient of the 2010 feigenbaum leadership excellence award 49 serves as the managing director of ifs . social responsibility edit in 2007 mawarid launched the tamaiaz award for new graduates and university seniors as part of its policy to drive emiratisation and dedicated an annual budget of aed 1 million to it . 50 it also encouraged other companies to join the initiative 51 and by 2011 six national companies sponsored the award . 52 apart from the monetary rewards recipients get special job offers special benefits after they are employed and training to ensure their professional success . rehab lootah chairs the tamaiaz award executive committee . 53 in 2008 tanmia the uae national human resource development & employment authority signed an mou with mawarid to increase job opportunities for nationals especially in banking & finance . tanmia also promoted the tamaiaz award . 54 as part of the falak tayyeb for smes campaign and in an effort to facilitate credit appraisals and improve credit assessments of prospective customers mawarid entered into mous with local audit firms talal abu ghazaleh and gulf resources to teach customers to maintain proper books of accounts and to audit the same at special concessional rates . mawarid finance was a strategic partner in the 8th forum of the gulf disability society held from 18 to 20 march 2008 under the patronage of his highness dr. sheikh sultan bin mohammed al qasimi ruler of sharjah which reflected its commitment to serving local society . 55 mawarid finance became a major sponsor of dubai s al nasr sports club in 2008 to encourage more participation in sports by uae nationals . 56 references edit 2010 annual report pdf . 2010 annual report pdf . souki noura . mawarid launch . mawarid finance with dhs1bn paid up capital launches in the uae . ameinfo.com . retrieved 20 june 2011 . mawarid joint stock . mawarid finance new private joint stock company . zawya.com . retrieved 20 june 2011 . al husseiny yasmine . mawarid ad campaign . mawarid finance launches emirati inspired marketing campaign . zawya.com . retrieved 20 june 2011 . sme percentage . mawarid government tie up to boost smes . zawya.com . retrieved 23 june 2011