Aafaq Islamic Finance, a provider of products compliant with Islamic Sharia law, has signed an agreement with Al Jazira Aviation Club in of Ras Al Khaimah to provide financing solutions for club members wishing to purchase light aircraft.
The cooperation agreement was signed by Captain Adel Yousef Al Zaabi, responsible manager of Al Jazira Aviation Club and 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: "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 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'.” – TradeArabia News Service