What are you hopes for the future of the Islamic economy in the UAE, and the world?
Mohammad Abdul Jalil al Blouki: “The UAE is at the heart of the Middle East, and aspires to be an Islamic financial and economic hub. The growth of Islamic banking has overtaken that of conventional banking. Now more than ever, the Islamic finance industry is being exposed to the volatility of international markets. While the global Sukuk market remains limited in size, a handful of large issuances can transform what appears to be a slow segment into an upbeat one. Good economic growth and swift recovery in the GCC and Asia – the twin engines of the Sukuk business – are expected to continue driving rapid development. The power and potential of the Islamic finance market has greatly increased in the international arena compared to the traditional banking sector.”
Could you tell me more about how you personally got to be where you are today?
Mohammad Abdul Jalil al Blouki: “I am very grateful for the success that I am currently enjoying. With that in mind, it is easy to be driven to accomplish more and aim higher. This drive to be more successful, have more clients, and make more money plays a crucial role in meeting personal benchmarks for excellence.”
Could you tell us about the history of aafaq? What are the main products and services under aafaq?

Mohammad Abdul Jalil al Blouki: “Backed by a respected group of shareholders, aafaq was established in 2006 with a capital of AED 600 million to provide innovative Islamic financial services and products across the UAE and the region. In 2008, the company distributed 10 per cent of its profit as cash dividends and 2.2 per cent as share grants, while it distributed seven per cent of its profit as cash dividends in 2009. Over the years, aafaq has been continuously accomplishing several milestones. In 2014, for instance, we successfully implemented and introduced a number of key initiatives, cutting-edge investment solutions, and innovative payment services.”



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