Mawarid signs up as Al Nasr sponsor

Mawarid Finance has become a main sponsor of Dubai's Al Nasr Sports Club in a move designed to encourage more sporting participation by UAE nationals.

Mohammed Al Naiami, CEO of Mawarid Finance, described the agreement as part of a wider company plan to support sport in the UAE.

"Our vision focuses on serving the diverse sectors of UAE society, concentrating largely on youth and providing them the ideal opportunities to be pioneers in all fields," he said.

"Sponsoring Al Nasr Sport Club is the best choice for achieving our goals in sport, and will assist in enhancing the club's role at local and regional levels."

Ali Ibrahim, Vice President of Al Nasr, said the deal will contribute to strengthening Mawarid's relationship with the fans of Al Nasr Club as well sports supporters throughout the UAE.

"Since being launched, Mawarid has proved its great commitment to the local community by supporting and enhancing the role of young Emiratis in all fields including sports," he added.

Mawarid Finance is a new private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirhams, providing innovative sharia'a-compliant financial products and services.

Notes and contacts

About Mawarid Finance

Mawarid Finance is a new private joint stock company established in Dubai, UAE, towards the end of 2006 with a paid-up capital of one billion dirhams. The company plans to introduce a new vision within the Islamic finance sector to both retail and corporate customers in the region.

Mawarid Finance is the only finance company in the UAE that is completely independent. The company's shares are distributed across 352 shareholders, with companies or organisations owning not more than 5% each of the capital and no individual shareholder's stake exceeding 2.5%, giving the company the operational freedom to secure a leading position in the Islamic banking market in the UAE.

Mawarid Finance specialises in the competitive development of Sharia'a compliant financial services, focusing on rapid growth through outstanding customer service.

Mawarid Finance is structured as an integrated financial institution that specialises in providing all services related to finance and business, responsive to the rapid growth taking place in Dubai and modelled on the spectacular development of Dubai and the UAE as a whole.

Mawarid draws its strength from a solid vision for the future articulated by a team of leading industry professionals, a close-knit network of strategic partners and business associates, and the financial backing and support of well-established shareholders.

Mawarid's mission is to create superior and exceptionally innovative Sharia'a- compliant products and services, sustaining high-quality performance and maximising market share to become the first choice provider of Islamic financial solutions in a modern business environment.

About Al Nasr Club

The Victory Sports Club in Dubai is considered the Dean of the clubs of the United Arab Emirates, the club was founded in 1945 when a number of young people gathered and exercised a game of football under the name of (Al-Ahli), and the name changed later to (Victory) in 1960, when a group of youths led by Sheikh Manea bin Khalifa Al Maktoum, the headquarter of the club moved to Al Shindagha, and in the sixties His Highness Sheikh Zayed bin Sultan Al Nahyan visited the club and gave a large gift to the club, and in that period His Highness Sheikh Hamdan Bin Rashid Al Maktoum became Chairman of the Club.

The club moved to the new location and by His Highness Sheikh Rashid bin Saeed Al Maktoum Al Maktoum Stadium opened in 1978., the youth people of the club had exercised number of games by that time till it reached thirteen game nowadays, and won a number of championships in most games, and in particular President Cup and local league more than once.

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