Aafaq Islamic Finance and Al-Jazira Aviation Club sign cooperation agreement


Club members can finance purchase of light aircraft and avail unparalleled competitive facilities at Al Jazira Aviation Club

Dubai, UAE: Aafaq Islamic Finance, the leading institution in the financial sector that provides financial products and services compliant with Islamic Sharia law, has signed a cooperation agreement with Al Jazira Aviation Club in of Ras Al Khaimah to provide the best unparalleled financing solutions for club members wishing to purchase light aircraft of various types.

The cooperation agreement was signed by Captain Adel Yousef Al Zaabi, responsible manager of Al Jazira Aviation Club and Mr. Rashid Mahboob Al Qubaisi, CEO of Aafaq Islamic Finance, who praised this step that encourages hundreds of young people, citizens and residents to practice the hobby of flying light aircraft over UAE landscapes.

The agreement effectively builds and strengthens relations between the two parties and provides club members activities that promote sports in the country and provide social and development services to the public who deal with the club while Aafaq provides financing programs and facilities to club members wishing to finance the purchase of their own light aircraft.

Rashid Mahboob Al Qubaisi, CEO of Aafaq Islamic Finance said: “We are honored to be in Ras Al Khaimah to extend our appreciation and gratitude to His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council of the Union, Ruler of Ras Al Khaimah, for all the generous care that he entrusts and Crown Prince, Sheikh Muhammad bin Saud bin Saqr Al Qasimi, for looking after the welfare of all.

He added, “After signing a memorandum of understanding recently with the “Saud Bin Saqr Foundation for Youth Enterprise Development”, we at Aafaq Islamic Finance are pleased to announce our cooperation with the Al-Jazira Aviation Club, to support the youth and their ambition to purchase a light aircraft at competitive financing rates. Following the approach of our wise leadership, we encourage our young people to engage in hobbies.” 

Captain Adel Youssef Al Zaabi said: “We extend our sincere thanks to His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his continuous interest in everything that enhances the emirate’s position as a vibrant tourist destination and we also thank the Club’s President, Sheikh Omar bin Saqr Al Qasimi for achievements under his guidance. We look forward to offering Aafaq Islamic Finance financing services to club members that include banking and related services and conclude this cooperation agreement with ‘Islamic Horizons’. 

Al Jazira Aviation Club, located in Ras Al Khaimah is accredited by the General Civil Aviation Authority in the UAE and currently has 470 members. It plays a key role in promoting and encouraging young people to join the field of light aviation, and provides everyone with the opportunity to witness the stunning landscapes in the emirate, distributed among beautiful high mountain ranges, beaches, creeks, desert sandy hills and natural life.

About Aafaq Islamic Finance:

Aafaq Islamic Finance PJSC was established in 2006 and provides a wide range of high-quality Sharia-compliant banking products and services to corporate and retail clients. It stands out to be one of the most independent financing companies in the UAE. Moreover, the company’s strategy focuses on exploring opportunities within different business sectors to achieve the highest levels of happiness for all stakeholders including shareholders, customers, employees, strategic partners and the community.

Aafaq depends on the strength of its strategic partnership with leading institutions in the UAE, such as the Ministry of Finance, Ministry of Human Resources and Emiratization, Dubai Economy, Emaratech, Trakhees, First Abu Dhabi Bank, and many Tas-heel, Amer and Business centers and others. aafaq provides the customers of these entities with services like E-dirham, Labour Guarantees, Wages Protection System, payment services for Dubai Economy and topping up of Noqodi wallets. In addition, aafaq offers a wide range of financing solutions and smart payment tools for companies and individuals.