DMCC announced today a significant milestone for its DMCC Tradeflow platform with the appointment of a Shariah Supervisory Board to oversee its Islamic finance offering. This strategic move strengthens DMCC’s position as a leading Shariah-compliant trade finance platform and expands its role in facilitating Islamic financial transactions.
Following an extensive review of its processes, structure and contractual framework, the board has certified that the platform’s Islamic unit is fully compliant 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 UAE’s central bank.
DMCC advances Dubai’s Islamic finance offerings
The newly appointed Shariah Supervisory Board will ensure that all transactions through the DMCC Tradeflow adhere strictly to 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.
“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,” stated Ahmed Bin Sulayem, executive chairman and CEO, DMCC.
The Shariah Supervisory Board comprises two esteemed Islamic finance scholars with deep 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 ensure that DMCC Tradeflow continues to operate at the highest levels of Shariah compliance while remaining an agile and innovative platform that meets the evolving needs of the Islamic finance sector.
Read: Emirates Islamic reports record net profit of $272.25 million in Q1 2025
DMCC Tradeflow records over AED1.4 trillion in Islamic finance transactions
DMCC Tradeflow provides a robust and transparent online platform for the registration of ownership of commodities stored in UAE-based facilities. It supports a wide range of financial transactions, with a particular focus on Commodity Murabaha, one of the most widely used and essential instruments in Islamic finance for liquidity management.
In 2024 alone, the platform recorded over 201,000 Islamic finance transactions with a value of over AED1.4 trillion.
The platform has been operating under Shariah principles since 2013, when it first received a Shariah compliance certification issued by the platform’s former Shariah advisor. The appointment of a new, dedicated Shariah Supervisory Board builds upon this legacy, ensuring the platform’s continued compliance with the rules and principles of Shariah while reinforcing its commitment to evolving Islamic finance standards and best practices.
