DMCC, Jafza to boost business in free zones

By Staff Report

Published: Wed 29 Jun 2016, 5:28 PM

Last updated: Thu 30 Jun 2016, 12:23 AM

Dubai Multi Commodities Centre, or DMCC, announced on Wednesday the signing of a Memorandum of Understanding (MoU) with Economics World Zone, Jafza's parent company.
The purpose of the memorandum is to enhance trade and explore new collaboration between Dubai's leading Free Zones by sharing best market practices and access to state-of-the-art technology through trading platforms such as DMCC Tradeflow.
Jafza companies will benefit from a range of products available through DMCC Tradeflow, the only electronic central registry for commodity ownership in the region, and its value added services including Sharia compliant commodity Murabaha mechanisms, inventory financing, as well as certified storage facilities through DMCC's 'warehouse inspections and ratings programme'.
Ahmed bin Sulayem, Executive Chairman, DMCC, said: "This collaboration with Jafza marks a natural next step in how DMCC seeks to collaborate with Free Zones to offer market participants access to technology and infrastructure they need to trade efficiently, - and how we deliver the future of strategic partnerships for the benefit of Dubai's economic growth."
Ibrahim Mohammed Aljanahi, Deputy CEO and Chief Commercial Officer of Jafza, said: "The DMCC Tradeflow platform has gained the trust of registered companies due to the transparency of operations and safety of the information shared. Companies also have easy access to funding by registering on the platform that has contributed to their expansion and growth in local and regional markets."
He emphasised, "Jafza has joined hands with DMCC to provide our customers with the facility to promote their trade. Our customers can list their companies and commodities on the DMCC Tradeflow platform to finance their businesses without hurdles." - business@khaleejtimes.com