Aseel Finance has opened a new branch in Abu Dhabi in Al Bateen area, the company said in a statement.

“This new branch symbolises the continued community presence of Aseel,” said Aseel Retail Business head Javed Afzal. “Since its launch last year, Aseel has grown, in a very short period of time, into one of the Emirates leading Islamic finance companies.”

Launched as a joint venture of four of Abu Dhabi’s leading business names; First Gulf Bank, Aldar Properties, Sorouh Real Estate, and Reem Investments, Aseel provides a wide range of Sharia compliant products, including Mortgages, Corporate Finance and Investments.

“We are now well on our way to realising our ambition of becoming the market leader and our latest initiative is a firm step in furthering our presence in the UAE capital,” said Afzal.

“Our team of dedicated professionals is ready to help customers with all their financial requirements and specific needs,” he said.

Aseel Finance has maintained its presence in the Islamic finance market throughout the year through financing major retail and corporate projects and high visibility at a number of events and exhibitions.

The exponential growth of the global Islamic finance market has had a significant impact on the emergence of Aseel as a leading market player, according to Afzal.

The recent findings of global research analysts Moody’s predict that the market, currently estimated to be worth around USD 700 billion, will reach record highs in 2008.

This follows the Islamic finance market’s year-on-year increase, which has shown a 15pc increase in each of the past three years, according to Moody’s.

“In such a buoyant market and given our strong community profile, Aseel is on track to achieve our goal to become the Islamic finance market leader,” said Afzal. – TradeArabia News Service