IslamicFinance.de

Gulf Finance Corporation, a subsidiary of SHUAA Capital, is launching a new specialist division called Gulf Finance Medical Leasing (GFML) that will offer operating leases for medical equipment to the UAE healthcare sector. The equipment can be leased on a monthly fee basis usually for three years at which juncture it can be returned, purchased or upgraded for new equipment. GFML is the first business of its type in the GCC and is planning to address significant market opportunities across the region.

In a recent announcement SHUAA Capital made known that its wholly-owned subsidiary - Gulf Finance Corporation - has engaged with the UAE Central Bank for a license which shall serve to establish an Islamic Window for some of its financing activities. The plans of Gulf Finance include the submission of the necessary applications in the first quarter of 2013. It is expected to be market-ready in the spring of 2013, subject to regulatory approvals. The proposed programme to offer Islamic financial services is consistent with the vision of Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai. He recently explained the necessity to establish a platform of Islamic economic products and services aiming to grow the Islamic economy.