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Source: Thomson Reuters.   Last updated on Jan 19, 2018 at 17:27PM (UTC).   Delayed by at least 15 minutes.
Dubai Financial Market Honored with the Global Islamic Business Award
May 07, 2017
Dubai Financial Market (DFM) has obtained the Global Islamic Business Award (GIBA), in the first round of this Dubai Economy’s initiative aimed at promoting best practices of business excellence amongst institutions in various sectors in line with the Islamic Sharia’a values.
 
His Excellency Essa Kazim, Chairman of DFM has received the award from His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, during the GIBA’s ceremony organized by Dubai Economy under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.
 
It is noteworthy that the award assessors have thoroughly reviewed DFM’s activities, processes and initiatives in order to evaluate the exchange’s commitment to Islamic business model and best practices of quality.
 
Commenting on this, His Excellency Essa Kazim said, “We are delighted to see DFM as one of the first financial institution to win the Global Islamic Business Award. This award is a significant addition to business excellence efforts in Dubai and I believe that it represents a clear recognition of DFM’s leading role in the Islamic capital markets sector. The award also reflects the excellence of our business model as it combines Sharia’a compliance in one-hand and quality standards on the other. Through its momentous history, DFM has always been committed to implement best practices of business excellence. These efforts have further strengthened DFM’s leading position regionally as well as fortified Dubai’s status as a dynamic capital markets hub globally, in line with the national strategy and the wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.”.
  
DFM is the first Shari’a-compliant exchange globally since 2007 and it plays a pivotal role in the concerted efforts to strengthen Dubai’s positions as the Capital of Islamic Economy globally. The DFM is actively creating the necessary standards for the growth of Islamic Finance and investments. Until now, it has launched three Shari’a standards including, the DFM Standard on Stocks in 2007, the DFM Standard on Sukuk in 2014 and the DFM Standard on Hedging against Investment and Finance Risks in 2017.
 
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