Printer Friendly

Treedom Hong Kong hires Shariyah Review Bureau.

Treedom Hong Kong announced that it has assigned Shariyah Review Bureau (SRB), a global Shari'ah Advisory firm to review, certify and oversee the Shari'ah Compliance of the Impact Saving Plan.

Mr. Antony Bell, International Business Development Manager at Treedom said, "Shariyah Review Bureau (SRB) is involved in certifying and supervising Shari'ah Compliant businesses around the world. They have provided us direct access to Shari'ah scholars and experts . Their proficiency in the structuring phase has already been instrumental in assisting us design the Oud Asset Agreement (O) and ensuring its feasibility from both Shari'ah & business perspective."

"There wide range of in-house scholarly expertise is expected to boost our growth goals and our relationships in the Islamic markets" he added. "We are looking forward to bringing our unique product into what is an exciting new market place for Treedom. Our product the O will be unique in the market place, bringing together Shari'ah finance and Oud Oil for the first time."

Andrew Steel, CEO at Treedom stated, "We are excited to present Islamic investors with an alternative asset solution. The structure for the Shari'ah compliant O will deliver portfolio construction of Agarwood oil distillation in a scheme that offers liquidity with modest investment returns." "Our focus with the O is to enter and then expand our penetration in the Middle Eastern market."

He added, "Research shows the comparative lack in the Agarwood market means that investment values rises steadily. As Shari'ah compliant investors are actively seeking such alternative investments with increased return potential and lowered equity risk. We believe our O will successfully connect the Muslim Investors to the strengths of Agarwood businesses."

Mr. Yasser Dahlawi, Chief Executive Officer at SRB commented, "Treedom's O is uniquely positioned to capitalize on Islamic growth opportunities. Their product is expected to stand out in the alternative asset-class market."

He added, "With almost a decade's experience in Shari'ah Advisory and Shari'ah Audit service to financial institutions and investment companies, and have worked on many Islamic projects worldwide, including UK, Australia, Canada, Switzerland, France and the GCC. Domestically in the Middle East, we have worked on over 400 projects covering a wide spectrum of transactions. Our services are designed to allow international clients like Treedom effectively collaborate with us without having the need to setup long-wait meetings for reviews and Certification."

Mr. Mansoor Ahmed, Assistant General Manager at SRB also stated that, "International firms across multiple industries have begin to strategically outsource their Shari'ah compliance and Advisory functions to us. Our "boots on the ground" approach appeals to clients with whom we work on a day-to-day basis spending more than 60 per cent of our time overseeing their Shari'ah structures, products and queries." Commenting on the assignment, he added "We are very excited by SRB's second engagement in Hong Kong. We intend on allowing Treedom to remain focused on their business while we look after all their compliance mandates in light of Shari'ah and practical business applications."

2014 CPI Financial. All rights reserved. Provided by , an company
COPYRIGHT 2014 Al Bawaba (Middle East) Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:CPI Financial
Geographic Code:9HONG
Date:Feb 25, 2014
Previous Article:Net income of Al Baraka Banking Group grew by 10 per cent to $258 million in 2013.
Next Article:Emirates NBD recognised in Power 100 Social Media Rankings compiled by The Financial Brand.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters