Islamic Banking Dubai by Al Masraf Bank

Islamic Banking in Dubai UAE - Al Masraf Bank Dubai Contact Details, Telephone Numbers, Website, Address, Location Map, Direction, Photos, Videos, Opening Hours, Email Address, Offers & Deals.
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Islamic Banking in Dubai UAE – Al Masraf Bank Dubai Contact Details, Telephone Numbers, Website, Address, Location Map, Direction, Photos, Videos, Opening Hours, Email Address, Offers & Deals.

Al Masraf Bank Dubai

Al Masraf Tower, Baniyas Street, Deira, PO Box 5549, Dubai, United Arab Emirates
Tel: +97142333500
Fax: +97142234311
Email: info@almasraf.ae
Website: http://www.almasraf.ae/islamic-banking

Islamic Banking Dubai by Al Masraf Bank

Under the guidance of Islamic Shari’ah principles, Islamic Banking has emerged as an alternative financial system that neither gives, nor takes, interest. This, thereby, introduces a fair system of social justice and equality, while satisfying the financial needs of the people and retaining high standards of ethics, transparency and a sense of responsibility.

Islamic banking has the same purpose as conventional banking: to make money for the banking institute by lending out capital. But that is not the sole purpose either. Adherence to Islamic law and ensuring fair play is also at the core of Islamic banking. Because Islam forbids simply lending out money at interest, Islamic rules on transactions (known as Fiqh al-Muamalat) have been created to prevent it. The basic principle of Islamic banking is based on risk-sharing which is a component of trade rather than risk-transfer which is seen in conventional banking.

Al Masraf Policies & Principles

Al Masraf’s Compliance & AML Team owns and is responsible for the following policies;

– Anti- Money laundering| Counter – terrorist Financing
– Sanctions Compliance
– Correspondent Banking Relationship
– FATCA Compliance

United Arab Emirates is a member of the Gulf cooperation Council, who in turn ia a member of the Financial Action Task Force ( FATF ) on Money Laundering and terrorism Financing.

UAE’s commitment in fighting Money Laundering & Terrorism Financing is evedent from the fact that clear and wide- ranging laws & regulations ( Federal Law # 4 os 2002) are in place.

The central Bank of UAE which is the regulator for all banks operating in UAE has also issued regulations on procedures for Anti Money Laundering ( Notice # 24/2000).

Al Masraf’s Compliance & AML policies are design to ensure compliance to requirements and obligations set out in local & applicable international regulations as well as FATF recomendations on AML & CTF.

Contact Information:

Islamic Banking Dubai by Al Masraf Bank

Address: Al Masraf Tower, Baniyas Street, Deira, PO Box 5549, Dubai, United Arab Emirates
Tel: +97142333500
Fax: +97142234311
Email: info@almasraf.ae
Website: http://www.almasraf.ae/islamic-banking

Islamic Banking Dubai UAE | Al Masraf Bank Dubai Contact Details, Reviews, Location Map, Telephone Number, Address, Working Hours, Photos & Videos of Al Masraf Bank in Dubai UAE. Find Al Masraf Bank in Dubai business directory with contact details, telephone numbers, email addresses, websites, location maps, driving directions, deals, offers, prices, costs, reviews and ratings.

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