Aafaq Islamic Finance", the leading institution in the financial sector that provides financial products and services compliant with the provisions of Islamic law throughout the UAE and the region, revealed its intention to provide more profit opportunities for participating companies in a special Sahobat, which offers them an opportunity to save in an investment deposit system that is compatible with Islamic Sharia in the form of a wakala.
The initiative contributes to spreading awareness of financial responsibility among members of the UAE community, and helps them achieve their financial goals, as well as provides companies with more opportunities to win valuable cash prizes.
After announcing the names of the winners of the fifth Sahobat draws, Aafaq decided to give the participants in this product additional opportunities to win rewarding prizes, including TVs, smart phones and cars, extending to December 31 of this year.
Rashid Mahboob Al Qubaisi, CEO of Aafaq Islamic Finance, said: “After the huge demand for participation in the Sahobat product, we decided to offer more opportunities to win by adding valuable prizes that include cars, TVs and smart phones, with an increase in the number of winners every two months resulting in two additional draws to the scheduled monthly and quarterly draws.”
Al Qubaisi added: “Aafaq seeks to create opportunities for small companies to deposit investments in the form of wakala and earn at competitive profit rates.They can earn additional cash for expansion ofprojects".
Mohammed Al-Dosari, Head of Business at Aafaq Islamic Finance, recalled that once companies invest in the “Sahobat” product, they automatically qualify for monthly and quarterly draws, as long as the investment deposit is active, as there will be 10 winners per month in the “draws” prizes. And three additional winners every quarter with cash values up to 10 times the invested value.
Al-Dosari said: “Aafaq decided to add 3 draws from July 1 to December 31, 2021, to be held on the following dates:
First Draw: September 9, 2021
Second Draw: November 11, 2021
Third Draw: January 6, 2022
The new prizes are:
First Prize: 2021 Mitsubishi Attrage
Second prize: Apple iphone 12 64 GB phone
Third Prize: Samsung Galaxy Tab 8 Tablet