Mauritius Trade Fund to grow with Sharia-compliant offering
Skybound Capital, a global wealth management business, is in the process of launching a Sharia-compliant trade finance Fund and has assigned Shariyah Review Bureau (SRB) as the Sharia Advisor for its Islamic Trade Finance Fund. The agreement will see SRB provide technical Sharia consultation, certification and operation monitoring through Sharia audit.
The new Fund is expected to facilitate trade in various jurisdictions and penetrate new markets while attracting Sharia-compliant investors from the Middle East. The Fund facility will comply with the regulatory standards of Mauritius. Skybound has over 30 years of experience in providing a diverse and unique range of investment products for family offices, private clients, advisors and institutions. “We are very pleased to be offering our investors Sharia-complaint financing opportunities while helping to provide more affordable and reliable opportunities to trading business in the Asian countries,” said Lee Dalley, Director of Skybound. “The Fund will be co-managed by Saudi Arabia based Derayah Financial, and will be supported by dedicated analysts of 12-strong trade finance team run by South Africa based experts of Skybound.” Lee added “Given the strategic importance of the Middle East, we are delighted to be working with SRB which has an extensive geographic footprint and over a decade of heritage in providing Sharia advisory services to institutions in the region. With the right Sharia Advisory institute, we feel very confident about our long term Sharia-compliant business development perspectives.”
Shariyah Review Bureau is a Middle East based Sharia advisory firm specializing in providing Sharia supervisory solutions and support services that investment companies, banks and fintech entities can leverage to get their offerings certified and tap Islamic financial markets. Speaking on the industrious revolution SRB is seeking to inspire, Yasser S. Dahlawi, CEO and Founder of SRB added: “Shariyah Review Bureau has successfully certified hundreds of products and funds and supervised thousands of transactions to establish itself as a key player in the Sharia Advisory landscape, while at the same time growing its scholarly capabilities for investors, whether institutional or wholesale.” He added, “I am excited about the future and the role our services will play in helping Sharia-complaint offerings like Skybound Capital’s move from strength to strength and keenly look forward to further building upon recent successes.”