UAE’s Aafaq mulls IPO as it bets on growing demand for Islamic finance
DUBAI - UAE-based Aafaq Islamic Finance is optimistic about its future as it expands into retail business and considers an initial public offering (IPO).
The provider of Islamic financing products and e-government solutions is currently a private non-listed company, but the plan is to go public in two years, Saif Ali Al Shehhi, managing director and CEO of Aafaq Islamic Finance told reporters in Dubai on July 8.
“Recently, we transferred our registration to Dubai Financial Market (DFM) and we are now one of the non-public companies registered with DFM,” said Al Shehhi.
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