Aafaq Islamic Finance and NWTN Drive Sustainable Mobility through Innovative Partnership
Dubai, UAE, 1 April 2024 - Aafaq Islamic Finance, a leading provider of financial services in the UAE, is pleased to announce a strategic partnership with NWTN, an eco-conscious mobility technology company. This collaboration, aimed at transforming the electric vehicle financing landscape, is formalized through a Memorandum of Understanding (MoU) signed between the two entities.
The partnership establishes a collaborative framework focused on sustainability and a greener tomorrow in the vehicle purchasing landscape. By enhancing accessibility to financing options and simplifying the purchase process, Aafaq Islamic Finance and NWTN strive to elevate customer satisfaction while embracing eco-conscious practices. Through this synergy, both entities aim to pioneer a seamless and efficient vehicle purchasing experience, driving towards a future defined by environmental stewardship and sustainable mobility solutions.
Key areas of collaboration identified encompass tailored financing solutions and streamlined application and approval processes. With a shared commitment to sustainability, Aafaq Islamic Finance and NWTN aim to integrate eco-conscious practices into their financial offerings. Aafaq's slogan, "Finance Made Easy," underscores their dedication to providing accessible financial solutions while aligning with sustainable initiatives, marking a significant step toward a greener future in the automotive industry.
Commenting on the partnership, Mr. Hisham Hammoud, CEO of Aafaq Islamic Finance, stated: "We are delighted to collaborate with NWTN in this endeavor. This partnership reflects our commitment to providing innovative and accessible financing solutions to our customers while promoting sustainability in the automotive industry."
From his end, Mr. Jan Scheidgen, Chief Commercial Officer at NWTN, commented on the collaboration, stating: "We are pleased to partner with Aafaq Islamic Finance to offer enhanced financing options for our premium electric vehicles. This collaboration marks a significant step towards achieving our shared goal of driving sustainable mobility solutions in the UAE."
Through this collaboration, Aafaq Islamic Finance and NWTN embody a shared commitment to excellence, innovation, and sustainability in the automotive and financial sectors. Together, they aim to redefine the landscape of electric vehicle financing, promising exceptional value and service to customers while advancing towards a more sustainable tomorrow.
About Aafaq Islamic Finance
Aafaq Islamic Finance PJSC was established in the year 2006, and it provides a wide range of high-quality, Sharia-compliant banking products and services to companies and individuals. It is unique as one of the financing companies that enjoys complete independence in the United Arab Emirates. In addition, the "Aafaq Islamic Finance" strategy focuses on exploring opportunities within various business sectors, and works to achieve the highest levels of happiness for its customers, including shareholders, consumers, employees, strategic partners and community members. To learn more about Aafaq Islamic Finance, please visit the website www.aafaq.ae
About NWTN
NWTN is a pioneering green energy company dedicated to providing passenger-focused, premium electric vehicle products and green energy solutions to customers worldwide. Headquartered in Dubai, United Arab Emirates (UAE), NWTN has a full vehicle assembly facility in Abu Dhabi.
NWTN is committed to the future of mobility solutions that integrate pioneering design, personalized lifestyles, Internet of Everything (IoT), autonomous driving technology and the eco-system of green energy.
In addition to the offering of new energy vehicles, NWTN is exploring opportunities in the entire clean energy value chain, including photovoltaics, green hydrogen power and energy storage in the UAE, the Middle East, North Africa, China, other Asian countries, and Europe.
For further information, please visit: www.nwtn.ae
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