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Deloitte & CISI Islamic Finance Forum – 4th December 2018

December 12, 2018ddcapNews

DDCAP was delighted to extend its engagement with sustainable and responsible actions and financial practices as named Supporter of the joint Deloitte & CISI Islamic Finance Forum|4 that took place in London on 4 December with the theme “Sustainable Islamic Finance: streamlining investment practices”

DDCAP Group Managing Director, Stella Cox, was asked to make opening remarks in support of a subsequent panel discussion on the role of Market Institutions and Practices.

Following her comments she joined the panel which  included Sohail Jaffer, Khalid Howladar and Asim Khan. Amongst key topics the panellists debated the fit of Islamic finance amidst green, sustainable and social markets; investment products and practices that differentiate Islamic sustainable finance and the prospects of and challenges to developing cross-border green sukuk.

World Islamic Banking Conference (WIBC), 26th to 28th November 2018

December 7, 2018ddcapNews

DDCAP sponsored and attended the 25th World Islamic Banking Conference, which took place in Bahrain on the 26th-28th November. The forum was well attended and covered a series of discussions on ‘Islamic Finance & Sustainable Economic Growth in the Age of Disruption’. Participants from DDCAP included Cassim Docrat, Charlie Sleightholme, Sylvester Da Silva and Callum Burgess, who took the opportunity to meet many of DDCAP’s clients in Bahrain and the wider region. Cassim was also a panelist, on the session titled ‘Region focused round Table: Africa’.

In his keynote address, Dr Sami Al-Suwailem, Head of Financial Product Development Centre, Islamic Research & Training Institute, Islamic Development Bank, stated that the size of e-commerce is three times the size of the Islamic financial industry and there is accordingly ample room for the industry to invest and participate in the digital revolution. Furthermore, e-commerce is a good channel to manage the liquidity of Islamic banks.

The conference also played host to an exclusive interview with H.E. Khalid Al Rumaihi, Chief Executive, Bahrain Economic Development Board, which focused on emerging projects and financing, and the benefits and risks of digitization. He also discussed the value added tax which is scheduled to be implemented in the Kingdom of Bahrain early in 2019.

Key insights on the final day included an exclusive interview with H.E. Shaikh Mohamed bin Khalifa bin Ahmed Al-Khalifa, Minister of Oil, Kingdom of Bahrain, who discussed investment plans in light of Bahrain’s recent large-scale discovery of shale oil and gas reserves, the global oil market ahead of December’s OPEC meeting and the new initiative and projects that are being undertaken by the Kingdom.

UK Turkey Islamic Fintech Forum, 16th November 2018

December 7, 2018ddcapNews

On 16th November, deputy CEO Lawrence Oliver attended the UK Turkey Islamic Fintech Forum held at the British Consulate in Istanbul. Lawrence was a panelist discussing funding and finance opportunities for Islamic fintech’s and subsequently, together with DDCAP manager Callum Burgess, made a presentation on DDCAP’s market-leading ETHOS Asset Facilitation Platform. Accompanied by executive director David Testa, Lawrence and Callum formed part of almost 100 attendees at the ground-breaking event, organised jointly by London’s TheCityUK and Borsa Istanbul, which also featured a keynote address by Nicholas Cannon, Head of the Economic and Prosperity Section at the British Consulate-General in Istanbul.

Global Islamic Economy Summit (GIES), 30th and 31st October 2018

December 7, 2018ddcapNews

On 30th & 31st October, managing director Stella Cox CBE attended the 4th Global Islamic Economy Summit, held in Dubai and organised by the Dubai Chamber of Commerce and Industry and Dubai Islamic Economy Development Centre.  Accompanied by executive director David Testa, as well as regional director Cassim Docrat and Kazi Hussain from DDCAP’s DIFC office, Stella attended a series of high-level workshops, keynote speeches and seminars featuring industry leaders from a variety of sectors illustrating the breadth and depth of the wider Islamic economy.   In addition to CEOs representing local Islamic financial institutions, senior executives also attended from sectors as diverse as tourism, fashion and the Islamic digital economy, with a particular focus on Fintech and ethical investment.   Official attendance was in excess of 3,000.

DDCAP WINS ‘BEST INTERBROKER 2018’ IN THE IFN AWARDS

November 29, 2018ddcapNews

DDCAP has won the award for ‘Best Interbroker’ in the IFN 2018 Awards for the second consecutive year.

The winners were selected following a poll by IFN of industry and market participants. DDCAP Managing Director Stella Cox CBE said “We are delighted to win this award. Given it is an industry vote, we see it as validation of our services and solutions by our clients and peers. We are truly appreciative of everybody who voted for us”

Refinitiv Partners With DDCAP Group To Provide A Fully Integrated Treasury Trading Workflow For Sharia’a-Compliant Transactions

November 22, 2018ddcapNews

Refinitiv, formerly the Financial & Risk business division of Thomson Reuters, has signed a partnership agreement with DDCAP Group (“DDCAP”), a leading provider of asset facilitation and trade execution services, to offer financial institutions a fully integrated treasury trading workflow for Sharia’a-compliant transactions.

The partnership provides clients in the banking and finance sector with a joint value proposition for Sharia’a-compliant transactions that supplements the functionality of Refinitiv’s treasury trading platforms with DDCAP’s real-time trade execution and post trade services platform, ETHOS AFPTM.

“The Refinitiv Islamic Deal Adapter, developed on Eikon Open Platform, is a treasury trading platform for Sharia’a-compliant transactions that allows customers to fully automate their Islamic deal workflow. DDCAP is the leading treasury and capital markets intermediary in the Islamic Financial Services Industry and this partnership will bring our respective technologies together in order to offer clients a unified and integrated workflow,” said Nadim Najjar, Managing Director, Middle East & Africa, Refinitiv.

“With the integration of the Islamic Deal Adapter and DDCAP’s ETHOS AFPTM, we will be able to provide an efficient, single solution to the Sharia’a-compliant institutional marketplace for trade execution,” added Najjar

Stella Cox CBE, Managing Director of DDCAP said “We are delighted to be working with Refinitiv on this innovative and ground-breaking development.  We are constantly investing in our systems technology, with the objective of enhancing and improving our services to our clients. Our strategic partnership with Refinitiv will allow the delivery of a single seamless transaction solution to the Sharia’a-compliant institutional marketplace.  We believe this will result in significant trade execution and operational efficiencies for our clients.

DDCAP is a leading market intermediary in the Islamic financial services industry, providing structuring support and value-added services to connect the global Islamic financial market responsibly across a diverse range of products and asset classes, including treasury, capital markets, fund management and consumer banking.

About Refinitiv

Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.

OMFIF PODCAST: LONDON AS A HUB FOR ISLAMIC FINANCE

November 2, 2018ddcapNews

 

DDCAP Managing Director, Stella Cox CBE, was interviewed by Anton Vargo of the Official Monetary and Financial Institutions Forum (OMFIF), an independent think tank for central banking, economic policy and public investment, in a podcast for the Islamic Finance series ‘London as a hub for Islamic finance’.

To listen to the podcast, please click the link below

https://www.omfif.org/meetings/podcasts/2018/october/islamic-finance-series-london-as-a-hub-for-islamic-finance/

IFN Singapore, 5th October 2018

October 5, 2018ddcapNews

IFN Singapore Forum gathered influential Islamic finance thought leaders to debate how Singapore can fully utilise its competitive advantages to shape itself as a regional and international centre of Sharia’a finance excellence.

At the event, Lawrence Oliver, Director and Deputy CEO of DDCAP, moderated the panel focusing on ‘Financing, Fund and Capital-Raising in Singapore: Islamic Options’ where the panel assessed the diversification of funding for corporates and the potential for Islamic financing arrangements. Further to this the panel discussed the potential for Sukuk issuance and identified what steps should be taken to deepen domestic and regional secondary markets and increase the tradability of such Instruments.

The half-day event was very well attended with many established attendees such as Sazali Baharom (Country Manager for Singapore, CIMB) featuring greatly. Baharom has been positive recently regarding Singapore’s potential, commenting that “In terms of regulations, Singapore does have the right ingredients in terms of flexibility and clear regulations.”, whilst also citing the country’s geographical location and conventional finance position (www.straitstimes.com, OCT 5, 2018,)

A common theme of the event was the need to incentivise entry into the Islamic finance market. Many attendees supported the idea that Singapore should follow Malaysia’s example of implementing industry incentives.

The event coincided with the launch of a new Sharia’a -compliant index – FTSE ST Singapore Shariah Index- launched by FTSE Russell, Singapore Press Holdings (SPH)) that will serve as a benchmark for Sharia’a -compliant funds looking to invest in the city-state. It is thought that the index could carve a path for more Sharia’a -compliant products to be created, with the first foray into Islamic financing not having quite taken off several years previously.

DDCAP Group’s representative office in Kuala Lumpur is authorised by the Malaysian authorities

October 4, 2018ddcapNews

DDCAP Group is delighted to announce that DDGI Limited’s application for the opening of a representative office in Kuala Lumpur has been approved by the Malaysian Investment Development Authority (MIDA).

The DDGI Limited Representative Office in Kuala Lumpur will help strengthen and support new and existing client relationships in Malaysia and Southeast Asia as well as provide a base to explore new, complementary opportunities in the region.

Along with DDCAP (DIFC) Limited in the DIFC in Dubai, the DDGI Limited Representative Office in Kuala Lumpur expands DDCAP Group’s global footprint and further solidifies its commitment to Southeast Asia. The Kuala Lumpur DDGI Limited Representative Office is expected to launch officially in Q1 2019.

DDCAP featured as the Daily Cover Story for IFN Alerts publication on Thursday 4th October 2018 which can be found below:

DDCAP to launch Kuala Lumpur office as springboard to new Southeast Asian opportunities

“GLOBAL: UK-based commodity Murabahah trading service provider DDCAP Group has secured regulatory approval to set up shop in Malaysia, allowing the firm to tap new opportunities in Southeast Asia as part of its expansion strategy.

Receiving an approval by the Malaysian Investment Development Authority, DDGI – a wholly-owned subsidiary of DDCAP Group – expects to open a representative office in Kuala Lumpur in the first quarter of 2019, the firm confirmed. The office would be DDCAP’s third office but first in the Asian region – it is currently present in London and Dubai.

“Southeast Asia encompasses a number of vibrant and rapidly expanding markets that offer exciting opportunities to DDCAP. We are committed to supporting our established customer base and have now responded to their requests of us to be closer to them,” shared Group Managing Director Stella Cox, adding that the group has been especially enthused by the Malaysian authorities’ leadership in integrating sustainable and responsible financial practices within local legislation and regulation.

The Kuala Lumpur office puts DDCAP at the heart of one of the largest Islamic finance markets in the world, where commodity Murabahah is widely used. Serviced by a number of local players and non-Malaysian firms, DDCAP would be one of the first foreign commodity Murabahah service providers to establish a physical presence in Malaysia.

“We believe that having [a] presence in Malaysia offers us an exciting opportunity to focus on the expansion of our automated solutions amidst a globally ambitious, technically focused, fintech community,” said Lawrence Oliver, DDCAP Group’s deputy CEO.”

GLOBAL ISLAMIC FINANCE FORUM (GIFF) 3rd and 4th October 2018

October 3, 2018ddcapNews

The Association of Islamic Banking and Financial Institutions Malaysia (AIBIM), with the support of the Central Bank of Malaysia, hosted the Global Islamic Finance Forum 2018 (GIFF 2018) from 3rd to 4th October at Bank Negara’s centre of knowledge and learning, Sasana Kijang, Kuala Lumpur. The theme for this year’s event was Value Based Intermediation – Beyond Profit, a strategy launched by the Bank in March 2018, whose central theme is understanding values in banking, introducing them into the DNA of banks and encouraging thinking and action that goes beyond profits. GIFF 2018 covered specific related topics including:

  • Integrating Sustainability and Responsible Financing into the Financial Sector
  • Pushing the Sustainable Agenda to the Board
  • Roadmap to Sustainability
  • Reporting on Sustainability
  • Technological Disruption Impacting Sustainable Finance
  • Advancing and Driving Systematic Change
  • Delivering Superior Customer Experience and Valuing and Fulfilling the Customers’ Needs

The event was extremely well attended with many established banks in the region in attendance, including Citibank Malaysia, BNP, MBSB, HSBC, Al Rajhi, OCBC, Maybank and Hong Leong.

 

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
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8-10 Grosvenor Gardens
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T: +44 (0)20 78631250
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E: ddgi@ddcap.co.uk

DDCAP (DIFC) Limited

DDCAP (DIFC) Limited
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Gate Village 3, DIFC
Box 506683, Dubai
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T: +9714 401 9844
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