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DDCAP Group Managing Director, Stella Cox CBE tops the WOMANÍ List for the second consecutive year as the most influential woman in Islamic Finance.

April 19, 2018ddcapNews

Womani is the ranking report of the most influential women in Islamic finance conducted by Cambridge IF Analytica (IFA), which is published by the well-known Islamic finance magazine ISFIRE (Islamic Finance Review). The list comprises the 100 most influential women in Islamic banking and finance (IBF), assessing their influence and leadership over their company and market sector, as well as career and performance to date.

Stella was delighted to again be ranked 1st on the listing for 2018, commenting “I am truly honoured to be included amongst a group of women who are contributing so extensively to the further development of the global Islamic financial services industry, across the expansion of its stakeholders and footprint, the growth of its institutions and the innovation of its product set. Furthermore, it is encouraging that the listing reflects the involvement of women from diverse geographies, from Africa, Asia, the Middle East and Europe further highlighting the expansion of the industry and well as the growing influence of the women who are active within it”

To further recognise the achievements of the 100 women on the 2018 listing, the inaugural Womani Awards Ceremony & Gala Dinner held on April 4, 2018 in Kuala Lumpur, Malaysia, where it was well-received by all in attendance. The chief guest was HE Dato’ Othman Aziz, Deputy Finance Minister of Malaysia. During his keynote address His Excellency referenced the event to the various initiatives Malaysia is embarking upon to promote gender equality in the workplace and draft legislation intended to address the balance between men and women contributing, through their work and efforts, to the country’s economic development .

“The Womani Awards must inspire a new breed of young women to become actively involved in Islamic banking and finance to eventually assume leadership roles in the industry,” said Professor Humayon Dar, Co-founder of Womani and Chairman of Edbiz Corporation.

“The past decade has seen a growing band of woman professionals breaking down barriers and performing increasingly important roles in the Islamic finance industry. These leading women have become drivers of change that have inspired a whole new generation of female talent. Our Womani Awards programme not only recognises and celebrates these inspiring women, but it is our hope that Womani will serve as a platform to support, encourage and promote women in the global Islamic financial services industry.” Dr Sofiza Azmi, CEO of Cambridge IFA and Co-founder of Womani.

DDCAP Group Managing Director was invited to speak at the Innovate Finance Global Summit 2018 ( IFGS 2018)

April 9, 2018ddcapNews

DDCAP Group Managing Director was invited to speak at the  Innovate Finance Global Summit 2018 ( IFGS 2018) which took place on 19th and 20th March at Guildhall in London.

During a session entitled, “Engaged Millennials: Why Does Ethics and Sustainability Matter?” panellists debated the importance to Millennials of approaches to Islamic financial services and related fintech that are embedded with sustainable and responsible investment and financing perspectives. Panellists were drawn from businesses with Sharia’a compliant, ethical and impact focused businesses with the majority, including DDCAP, combining SRI disciplines within their strategic development objectives.

DDCAP’s award winning platform ETHOS AFP™ (contact: +44 207 863 1260 or email: ethossupport@ddcap.co.uk), which provides a fully automated solution to the wholesale and retails transaction requirements of Islamic banks and institutions, is an example of the proactive contribution that Islamic financial sector firms are making to UK and, indeed, global fintech development initiatives.

The IFGS panel was moderated by Ali Paterson, Editor in Chief, Fintech Finance

Alongside Stella panellists included:

Harris Irfan MD, Cordoba Capital and Chair, UK Islamic FinTech Panel

Ollie Purdue Founder, founder of  Loot

and Samina Akram, Managing Director, Samak Ethical Finance Ltd and Founder of the Women in Islamic & Ethical finance forum (WIEFF)

Sukuk Summit 2018 – London Stock Exchange Group “Driving Change – Funding the Future” 5th March 2018

March 22, 2018ddcapNews

DDCAP Group Managing Director, Stella Cox,  was delighted to be asked to speak at the 2018 Sukuk Summit‎, which took place in London on 5th March, organised by Freuds.

The Islamic Development Bank (IsDB), one of the world’s largest multilateral development banks, sponsored the  Sukuk Summit – in partnership with the UK Government and London Stock Exchange Group – to convene experts and investors from across the world to discuss Islamic finance and Sukuk.

The Sukuk market represents a key component of the Islamic financial system, which has grown at a double-digit rate for the last decade and reached approximately $3.5 trillion (£2.4 trillion) last year.

The 2018 Sukuk Summit brought together over 125 experts from government; senior management of supra-national institutions; representatives of central banks; representatives of international and regional banks; FinTech and academia in order to explore trends and opportunities in Sukuk-led Islamic capital markets.

The Summit’s location reflects the UK’s growing expertise in Islamic finance and the UK Government’s support for the sector over a number of years. This has included the launch of the UK Government’s own £200million Sukuk in 2014: cementing Britain’s position as the leading western financial centre for Islamic finance by becoming the first country outside the Islamic world to issue sovereign Sukuk. Furthermore, last month, Al Rayan Bank – the UK’s retail focused Islamic bank – became the first bank in the world to issue a public Sukuk in a non-Muslim country. The Bank’s ‘Tolkien Funding Sukuk No.1 Plc’ is the largest ever Sterling Sukuk issued and the first UK RMBS issue to be structured in acordance with Sharia’a principles.

Key note speakers at the Summit, representing the sponsors and also governmental perspectives included:

Rt. Hon. Sajid Javid MP, Secretary of State for Housing, Communities and Local Government

H.E. Dr. Bandar Hajjar, President of the Islamic Development Bank

John Glen MP, Economic Secretary to the Treasury and City Minister

Nikhil Rathi, CEO of London Stock Exchange PLC

Fahad Al Saif, Head of Debt Management, Kingdom of Saudi Arabia Ministry of Finance

During the Summit, the IsDB announced its funding plan for the first half of 2018, which is estimated at $2.5 billion –  the largest since the Bank’s inception – as well as the imminent issuance, subject to market conditions, of a benchmark sized Sukuk. The proceeds of that will be deployed to support infrastructure, education and health projects across the IsDB’s 57-member nations, which span across four continents and include 1 in 5 of the world’s population.

Following the main Summit, the UK’s Chancellor of the Exchequer, Rt. Hon Philip Hammond MP,  invited delegates to an afternoon reception at Number 11 Downing Street.

Amongst the proceedings on the day Stella Cox and DDCAP Group Deputy CEO, Lawrence Oliver, were asked to join H.E. Dr. Bandar Hajjar, President of the Islamic Development Bank, as he formally opened trading at the London Stock Exchange in London with Sadiq Khan, Mayor of London. During the Summit, Stella spoke during the panel session entitled “Britain: A Launchpad for Islamic Investment Opportunities Across the World” and was later interviewed about Islamic finance by Ian King for Sky News. Please find the interview below.


IFN Oman Forum – 13th March 2018

March 22, 2018ddcapNews

After the success of IFN Oman Forum in 2017, the forum once again returned to Oman on 13th March 2018. As one of the last GCC nations to join its peers in tapping the Islamic finance industry, Oman has been the hotbed of interest in the GCC region for investors and corporates alike for almost half a decade now. The development of the Islamic finance and banking industry has been an important contributor to the country’s economic growth, with efforts to grow the sector being exercised frequently to compete with its neighbours.

DDCAP Group Executive Director David Testa and DDCAP (DIFC) Limited Director Cassim Docrat were delighted to attend this event, where David was a panellist on the final session of the forum ‘Preparing for the Future: Financial Technology in Oman and GCC Region’, which included a key discussion on what the advancement of technology means for financial institutions in Oman and the Gulf region. Oman is particularly well placed to take advantage of new developments as the Islamic banking sector, both the fully fledged Sharia’a-compliant institutions as well as the Islamic ‘windows’, is relatively new and seems well placed to embrace further developments in FinTech, both ‘disruptors’ and ‘enablers’.  David emphasised DDCAP’s own successful track record as a FinTech company, focusing on the transformation in the operating business of the company and in particular its increased use of automation in the form of our asset facilitation platform, ETHOS AFPTM.  This in turn has had tangible benefits for its extensive network of banking clients, reducing transactional and documentation lead-in times, with an attendant reduction of the operational risk of the Islamic finance trades in which the company specialises.

DDCAP Group Executive Director, David Testa with panellists of the ‘Preparing for the Future: Financial Technology in Oman and GCC Region’ session

 

 

 

 

 

 

 

DDCAP Group accepts the award for “Best Interbroker 2017” at the IFN Awards Dinner

March 22, 2018ddcapNews

DDCAP Group Executive Director David Testa and DDCAP (DIFC) Limited Director Cassim Docrat were pleased to host a table of invited guests at this highly successful event, well attended by the leading lights of Islamic finance in the UAE and GCC more generally.  In a particular highlight for the DDCAP Group, Cassim accepted one of the prestigious awards given out during the evening, awarded to DDCAP for ‘Best Interbroker for Islamic Transactions’ for 2017.

 

 

IFN World Leaders Summit – 11th March 2018

March 22, 2018ddcapNews

The IFN World Leaders Summit is a unique, by invitation-only annual meeting gathering CEOs of Islamic financial institutions, top business leaders, policymakers, legal experts, economists and thought leaders from key Shariah finance markets to critically discuss and debate the most pressing issues facing the Islamic finance industry.

DDCAP Group was a sponsor of the event and our Executive Director, David Testa was delighted to be a panellist on the Capital-Raising Roundtable whereby they revealed their thoughts and insights on raising capital through Islamic finance. David focused his comments on the positive sentiment for Islamic finance in the UK at the moment, in particular the ground-breaking Al Rayan £250m fully asset-back Sukuk issue and encouraging signs of renewed Government engagement with the Islamic Finance sector.  This has been demonstrated by ministerial support for reviewing the possibility of renewing the UK Government’s £200m Sukuk issue, originally issued in 2014, and the presence of both Sajid Javid, Cabinet member and Secretary of State for Housing, Communities and Local Government, and John Glen MP, Economic Secretary to the Treasury and City Minister, at the successful Sukuk Summit organised by the Islamic Development Bank and the London Stock Exchange and held at the latter’s offices on 5th March 2018, which we cover fully in our review of the Summit and the ancillary events to it that involved DDCAP Group senior executives.‎

DDCAP Group Executive Director, David Testa with the panellists of the ‘Capital-Raising Roundtable’

DDCAP Group’s Managing Director, Stella Cox CBE, spoke at the UK Islamic Finance Council’s thematic workshop  “How Ethical is Islamic Finance?”

March 1, 2018ddcapNews

DDCAP Group’s Managing Director, Stella Cox CBE, spoke at the UK Islamic Finance Council’s thematic workshop  “How Ethical is Islamic Finance?”

Sponsored by DDCAP, This event was organised by the UKIFC, together with the International Sharia’a Research Academy for Islamic Finance (ISRA), and was hosted by K&L Gates. Stella was a panellist on the session which examined how Islamic finance principles might align with ethical finance trends.

Other discussions included a review of how regulatory requirements may impact the adoption of environmental, social and governance (ESG) considerations by financial institutions. The workshop was well attended with representatives of both UK and international IF practitioners and academia.

 

DDCAP Group Achieves Cyber Essentials Plus Certification

January 10, 2018ddcapNews

DDCAP Group ETHOS Asset Facilitation Platform™ and associated networks has been awarded the Cyber Essentials Plus certificate. This is an extremely challenging badge to obtain, and is only provided to the most security aware organisations.

The Cyber Essentials Plus certificate is a UK Government-backed scheme, introduced as part of their National Cyber Security Strategy to make the UK a safer place to conduct business online. After being carefully assessed, DDCAP Group has been deemed worthy of receiving the certificate, validating both the priority attention and importance that we place upon our cybersecurity as well as the consistently high standards we maintain in ensuring its oversight and effective management.

What is the Cyber Essentials Plus Certificate?

The Cyber Essentials scheme was developed by the UK Government in collaboration with the cybersecurity industry. It acts as a means of underlining a basic standard that organisations should adhere to in order to make themselves less vulnerable to cybercrime, in particular against the most common methods of cyber-attack: hacking and phishing. The certificate also gives organisations a way to demonstrate to their clients, investors and insurers that they have met these important requirements. The Cyber Essentials Plus certificate is a step above the regular certificate, and we are extremely proud to have acquired it.

What is the Process for Obtaining the Certificate?

In order to determine the extent to which an organisation has met the requirements, an internal and external assessment is carried out. The assessment covers a number of categories in which an organisation must demonstrate that they maintain a high standard of security. These categories include: –

  1. Boundary firewalls and internet gateways;
  2. Secure configuration;
  3. Access control;
  4. Malware protection;
  5. Patch management.

The assessment is carried out by security professionals, who attend site to properly audit these areas.

 

 

Executive Workshop on Responsible Investment and Sources of Financing Social Infrastructure 28th November 2017, London‎

December 13, 2017ddcapNews

DDCAP Group Managing Director, Stella Cox, was delighted to join the opening panel of the 11th Executive Workshop on Responsible Investment: Sources of Financing Social Infrastructure. This was jointly organised in London on 28 November 2017 by Deloitte (Middle East) and the Chartered Institute for Securities and Investment (“CISI”) and supported by the IDB Group’s Islamic Research and Training Institute (“IRTI”) and Deloitte UK.

During the session panellists discussed “Creating an Enabling Regulatory Environment in European Markets.” Alongside Stella the panellists included session Moderator Atif Yusuf, Partner Deloitte UK; Peter Casey, Advisor IFSB and ESCA; Professor Humayon Dar, Chairman & CEO Edbiz Consulting; Arshadur Rahman, Manager Bank of England; and Sheikh Essam M. Ishaq the renowned Sharia’a Scholar, who has a global perspective.

Stella was also joined by Lawrence Oliver; Deputy Chief Executive Officer and Jennifer Schwalbenberg; Associate Director, from the DDCAP Group.

IFN Forum New York 2017

November 6, 2017ddcapNews

IFN Forum New York – 19th October 2017 

The IFN Forum returned to New York after a successful event in 2016, and continued in 2017 with a strong and varied offering, attended by a good mix of financiers and service providers.  Led by an enthusiastic keynote address from local New York State Senator Kevin Parker, sessions ranged from an analysis of opportunities for Shariah-compliant asset and wealth managers in the US to a dissection of recent real estate transactions, where foreign direct investment was being warmly welcomed by the local market.  Speakers also addressed recent developments in US investor appetite for Middle Eastern Sukuk issuance as well as the continued growth of Sharia’a-compliant offerings in the Fintech space.

DDCAP was a sponsor of the event and our stand was dutifully attended by Scott Cording, Manager from our Trading Desk. Executive Director David Testa was a panellist on the final session of the event, which discussed ‘SRI and Green Finance: Integrating Islamic Investing’.  Following on from an introductory presentation by Josh Zinner from the Interfaith Center on Corporate Responsibility, David and fellow panellists (representing wealth manager Andalus Capital and US law firms Roberts Moghul and Michelman & Robinson) discussed current trends and future opportunities.  In particular, the panel analysed the concurrent development of shared values frameworks by several interfaith bodies and how they could be integrated into Sharia’a compliant transactions.  The panel concluded that this was an area full of potential, given the substantial cross-over and overlap of the principles underpinning both ethical finance and Islamic finance.”

 

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DDCAP (DIFC) Limited

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