DMCC Tradeflow, a pioneering platform that is transforming regional trade by DMCC, has secured the Shariah compliance certification, reinforcing DMCC’s position as a leading Shariah-compliant trade finance platform and expanding its role in facilitating Islamic financial transactions.
DMCC appointed the Shariah Supervisory Board to oversee its Islamic finance offering, to ensure that all transactions through the DMCC Tradeflow comply with Shariah’s rules and principles and the highest ethical and regulatory standards, confirming that it remains at the forefront of innovation and integrity in Islamic trade finance.
After an thorough review of its processes, structure and contractual framework, the Board has certified that the platform’s Islamic unit aligns fully with Shariah’s rules and principles, the guidelines set by the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI), and the regulatory requirements of the Higher Shariah Authority of the Central Bank of the United Arab Emirates.
This Shariah certification will provide financial institutions with confidence and assurance, enabling them to scale their Islamic trade finance operations through DMCC Tradeflow.
Ahmed bin Sulayem Executive Chairman & CEO – DMCC
“DMCC Tradeflow provides financial institutions with a secure, transparent and fully Shariah-compliant mechanism to facilitate commodity-based transactions. In 2024 alone, the platform recorded over 201,000 Islamic finance transactions with a value of over $381 billion (AED 1.4 trillion). The appointment of a dedicated Shariah Supervisory Board reinforces our unwavering commitment to upholding the highest standards of Islamic finance and enhancing confidence among financial institutions, further strengthening the position of Dubai as a global hub for Shariah-compliant financial services.”
The Shariah Supervisory Board includes two leading Islamic finance scholars with in-depth expertise in Shariah-compliant financial structures and governance: Prof. Dr. Jassim Al-Shamsi, Chairman of the Shariah Supervisory Board and Prof. Dr. Mohammed Ali Al-Qari, Member of the Shariah Supervisory Board.
Their leadership will guarantee that DMCC Tradeflow maintains the highest levels of Shariah compliance while remaining an agile and innovative platform that caters to the evolving needs of the Islamic finance sector.
Since 2013, DMCC Tradeflow has been operating under Shariah principles, and has also secured a Shariah compliance certification issued by the platform’s former Shariah advisor.
The appointment of a new Shariah Supervisory Board builds upon this legacy, ensuring the platform’s continued compliance to the rules and principles of Shariah while strengthening its commitment to evolving Islamic finance standards and best practices.
DMCC Tradeflow delivers a robust and transparent online platform for the registration of ownership of commodities stored in UAE-based facilities. It supports an array of financial transactions, with an emphasis on Commodity Murabaha, one of the most widely used and essential instruments in Islamic finance for liquidity management.
