Dubai Multi Commodities Centre (DMCC) has announced that Ahmed Bin Sulayem, executive chairman, DMCC, received the Outstanding Contribution to Islamic Finance Award at the annual Mena Fund Manager Performance Awards.

UAE’s Minister of Economy Sultan Bin Saeed Al Mansoori, presented Bin Sulayem with the award at The Address Downtown Dubai, attended by over 300 industry participants.

Dedicating the award to Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, Bin Sulayem, said: “It is an honour to receive this award which is further testament to the strength of the leadership of Dubai.”

“Commodities are the backbone of the Islamic economy due to the transparent and secure way stakeholders can exchange physical goods to guarantee transactions. While obviously based on the tenets of Islam, the opportunities to capitalise on this growing segment are not exclusive to Islamic companies.

“It appeals to the broader business and international community more so now than ever – and as a global centre for commodities, DMCC is proven to be well equipped to facilitate the growth of this thriving and rapidly expanding sector,” he added.

“The willingness and drive to constantly adapt to meet market needs, means that the DMCC Tradeflow platform is becoming an indispensable tool for Islamic banks looking to trade commodities for Murabaha. Hence the scope of activities Islamic banks can perform in Dubai is growing exponentially,” said Paul Boots, director, DMCC Tradeflow.

The Mena Fund Manager Performance Awards recognise and reward the most influential heavyweights of the regions fund management space, and is the largest single gathering of fund managers in the industry’s calendar. – TradeArabia News Service