Welcome to DDCAP Group

Stella Cox

Stella Cox CBE- Managing Director

Stella has worked within the Islamic financial marketplace for more than three decades.

Since 1998, she has been Managing Director of DDCAP Group, which is a leading provider of asset facilitation and   related technology solutions to Islamic financial market institutions. DDCAP has also invested, for its own account, in a number of Islamic financial sector initiatives. Under Stella’s leadership, DDCAP Group has pioneered Sharia’a compliant intermediation services, serving clients and counterparties across the globe.

From 2007-2009 Stella served as an Independent Non-Executive Director of Gatehouse Bank, a UK Islamic investment bank. Previously Stella was a Director of merchant bank, Kleinwort Benson Limited, where her team managed assets aggregating over US$2bn. Whilst at Kleinwort Stella was involved in structuring The Islamic Fund, the first Sharia’a compliant global equity fund which launched in 1986. She was also a Director of the Al Meezan Commodity Fund plc, a joint venture initiative with a GCC Islamic bank that invested in non-ferrous metals traded on the London Metal Exchange.

Outside of DDCAP, Stella has had the privilege to be appointed to numerous industry think tanks, working groups and committees.‎ In 2013, the UK Government launched the first Islamic Finance Task Force. The ministerial led Task Force was established to refocus on Islamic finance and the UK proposition. Stella was one of a small group of non-ministerial industry experts within the Task Force and acted as practitioner lead for the regulatory work stream. With support from the Task Force, the UK Government announced plans to launch an inaugural sovereign Sukuk at the World Islamic Economic Forum (WIEF) in October 2013 in London, with the successful issuance following in June 2014.

In 2014, Stella was appointed Chair of the Islamic Finance Market Advisory Group formed by TheCityUK, the financial services professional body that champions UK-based financial and related professional services. It is a membership body, lobbying on the industry’s behalf, producing evidence of its importance to the wider national economy. Since 2015 she has been a member of the Board of Trustees of the RFI Foundation and, since 2016, has served as an Advisory Board member for the Ethical Finance Innovation Challenge Awards (“EFICA”) co-sponsored by Abu Dhabi Islamic Bank and Thomson Reuters.

Stella is a Fellow of the Institute of Islamic Banking and Insurance (IIBI) in the United Kingdom and has served on its Board of Governors within the Islamic Banking Group. Previously, Stella was a member of HM Treasury’s Islamic Finance Experts Group, where she also worked within the Market Standardisation Sub-Group.

Stella was also a member of the Working Group established by the Central Bank of Bahrain (formerly the Bahrain Monetary Authority) with the purpose of developing procedures and documentation for Islamic commodity trading, and she assisted the Dubai International Financial Centre Islamic Advisory Committee with its work on selected strategic development initiatives. Stella served as a member of the Islamic Financial Services Board Money Market Task Force on Markets and Instruments for Sharia’a Compliant Liquidity Management and represents DDCAP on the Market and Product Development Committee of the International Islamic Financial Market.

In 2008, Stella was awarded for ‘Outstanding Contribution to Islamic Finance in the UK’ at the IREF Summit.‎ Outside of her work as a financial market practitioner, Stella continues to speak regularly at international conferences and has contributed to many publications including Islamic Banker, Euromoney, Institutional Investor, Islamic Finance News, Arab Bankerand New Horizon. She was co-author of Structuring Islamic Finance Transactions published by Euromoney Books and, in 2006, co-authored the Islamic Finance Qualification (IFQ), jointly offered by the UK Chartered Institute for Securities & Investment (CISI) and the Ecole Superieure des Affaires in Lebanon, contributing the Islamic Asset and Fund Management module.‎

Stella also continues to support educational initiatives that are relevant to the market and the development of its resources. She is a member of the University of East London’s Islamic Finance and Banking Advisory Board and has been a visiting lecturer at Durham University’s Islamic Finance Summer School Programme as well as the Cambridge Islamic Finance Programme at Clare College, Cambridge.

On 10th June 2016, Stella Cox was appointed a Commander of the Order of the British Empire (CBE) in Her Majesty the Queen’s Birthday Honours List. Stella was honoured for her services to the Economy and, specifically, as a Champion for the Development of Islamic Finance in the UK.‎ In 2017 she was ranked number 1 in the ‘Top 10 Women in Islamic Banking & Finance’ listing published by ISFIRE.

Lawrence Oliver

Lawrence Oliver – Director – Deputy Chief Executive Officer

Lawrence Oliver is a Director of DDCAP and its subsidiaries DD&Co Limited and
 DDGI Limited.

Lawrence has principal responsibility for the company’s Trading and Trade Support
desks and has extensive experience of arranging asset-based transactions that conform
to Sharia’a stipulation.

He focuses specifically on Sharia’a compliant structured finance and asset origination
and has broad knowledge of the physical commodity sector which has enabled him to 
re-establish the traditional merchant trading capabilities of DD&Co Limited for the
benefit of institutional clients operating within the Islamic Financial sector.

Lawrence has worked in the Islamic Finance market for more than twenty years. He
joined DDCAP in April 1998. Previously he was an Assistant Manager at Dresdner
Kleinwort Benson and a member of the team responsible for the Islamic Finance and
Investment activity.

Lawrence is a regular speaker at many of the annual Islamic conferences held in the
GCC, South East Asia and Europe.

David Testa

David Testa – Executive Director, Business Origination

David is an Executive Director of Business Origination at DDCAP, and is on the board of DD&Co Limited and DDGI Limited.

David has worked in the financial services sector for nearly 20 years, and for most of that time in Islamic finance.  He was previously CEO of Gatehouse Bank, leading the team that obtained its banking licence, and he has continued to specialize in Islamic capital markets and investment products.

Immediately prior to joining DDCAP in August 2017, David worked for the Kuwaiti European Holdings Group, owned by significant investors in the GCC, where he was CEO of its two UK operating companies, including an FCA-authorised advisory firm focusing on Sharia’a-compliant investment opportunities in the UK.

Before joining Gatehouse, David worked for WestLB for 10 years and led the Islamic finance team there, closing over US$5 billion of Islamic financing transactions  Perhaps most notably, David was the lead banker on the £225m Sharia’a-compliant UK leveraged buy-out of Aston Martin from Ford.

David started his career in the City as a solicitor, working in London and Tokyo with international law firm Slaughter and May and, subsequently, Ashurst, specialising in corporate finance and banking, and in particular capital markets and derivatives.

David is a frequent speaker and panellist at Islamic finance conferences in the GCC, the UK and the rest of Europe.

Martin Harris

Martin Harris, Executive Director – Automated Business Systems Development, IT and Post Trade Services

Martin is Executive Director of Automated Business Systems Development, IT and Post Trade Services at DDCAP.

Most recently, Martin has been the Senior Director responsible for ‎Business Operations and Change at NASDAQ NLX. Prior to that, Martin worked for London International Financial Future Exchange, Euronext and spent 8 years with NYSE group entities, initially as VP Head of Systems Development at NYSE Euronext and then as VP Head of Development and Programme at Intercontinental Exchange NYSE.

Martin has extensive experience in the provision, delivery and operational oversight of systems development and the management of trading and clearing services for commodities, fixed income and equities.

His significant leadership experience has been gained from managing large global, multi-discipline delivery and operations teams both onshore and offshore.

Cassim Docrat

Cassim Docrat, Director – DDCAP (DIFC) Limited

Cassim is the director of DDCAP (DIFC) Limited, the company’s representative office in the Middle East.

Cassim has over 28 years international banking experience in Canada, the US, Europe, Asia, the Middle East and Africa.

Cassim has built strong relationships with major institutions and government entities in the region and beyond. He has experience across Commercial, Investment and Islamic bank offerings focused at institutional investors.

Cassim started his banking career in 1981 with Citibank in London before moving to Canada where he went on to hold senior positions at Citibank, Bank of Montreal and the Bank of Nova Scotia. He has worked in the Middle East since 1991 holding senior executive positions with banks including Kuwait Finance House, Al Rajhi Bank in Saudi Arabia and most recently, the National Bank of Abu Dhabi.

Paul Ratman

Paul Ratman – Chief Operating Officer

At DDCAP, Paul brings his Treasury expertise to the fore as well as his in-depth knowledge of the Middle Eastern financial arena. Paul focuses on leading the DDCAP joint-venture initiative with ICAP plc, providing origination and relationship management for the Islamic securities brokerage services offered by ICAP plc in sukuk secondary markets.

Additionally, he utilises his extensive experience to complement the considerable skill-sets already operational within the DDCAP group, particularly in facilitating arrangements to support our client banks’ Islamically compliant structured, hedging and currency products.

Paul Ratman joined DDCAP in August 2007 having completed over five years as Head of Treasury at National Bank of Fujairah, Dubai. Prior to that assignment, he had over twenty-years of Treasury experience among several international institutions in the City of London.


DDCAP offices



DD&Co is a Category V Associate Trade Member of the London Metal Exchange

DD&Co is an Affiliate Member of the London Platinum and Palladium Market

DD&Co is an Affiliate Member of the London Platinum and Palladium Market


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DDCAP Limited

DDCAP Limited
Registered Address
8-10 Grosvenor Gardens
London SW1W 0DH
United Kingdom

T: +44 (0)20 78631250
F: +44 (0)20 76635462
E: ddgi@ddcap.co.uk

DDCAP (DIFC) Limited

DDCAP (DIFC) Limited
Registered Address
Suite 12, Level 1
Gate Village 3, DIFC
Box 506683, Dubai
United Arab Emirates

T: +9714 401 9844
E: ddcapdifc@ddcap.com