Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  
Alpen Gears Up to Provide Islamic Offering, Constitutes Shari'ah Supervisory Board chaired by Sheikh Dr. Elgari
 
Alpen Gears Up to Provide Islamic Offering, Constitutes Shari'ah Supervisory Board chaired by Sheikh Dr. Elgari

Dubai - January 25, 2021:  Alpen Capital and Alpen Asset Advisors (Alpen) announce the formation of their Shari’ah Supervisory Board (SSB). The SSB will supervise and advise on Shari’ah related matters in conducting Islamic Financial Business including Shari’ah Review & Consultation and Shari’ah Audit. Alpen has engaged Minhaj Advisory, a firm specialized in providing Shari’ah financial advisory services, as an advisor for its Islamic offering. 

The Alpen SSB comprises of renowned Islamic scholars namely Sheikh Dr. Mohamed Ali Elgari, Chairman of SSB, Sheikh Dr. Amin Fateh and Sheikh Abdulsattar Ali Al Kattan. 

“The Islamic finance industry has been growing rapidly over the last couple of years and continues to grow even in the midst of the pandemic. The appetite for Sharia investing/finance has been on the rise and we are witnessing many non-Islamic firms set up Islamic offering platforms mainly to provide structured finance solutions for Sukuks. However, the Islamic finance industry is posed with the challenge of lack of standardized rules and regulations globally. The initiative taken by UAE to build a unified global legislative framework is bringing together Islamic scholars from around the world to address and reduce these discrepancies, which will further encourage firms to establish Islamic platforms. Alpen’s decision to set up an Islamic platform is timely and given their track record success is assured”, said Sheikh Dr. Mohamed Ali Elgari, Chairman of the SSB.

Sheikh Dr. Amin Fateh and Sheikh Abdulsattar Ali Al Kattan echoed the views of Sheikh Dr. Mohamed Ali Elgari and expressed that under the ‘Dubai: Capital of Global Islamic Economic’ strategy they have witnessed renewed interest and demand for Shari’ah compliant products and services. They are happy to see Alpen gearing up to offer a suite of Islamic products under the guidance of the SSB and look forward to supporting them.

“The ‘Dubai: Capital of Islamic Economy’ strategy launched under the directive of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, along with the recently announced initiative to build a unified global legislative framework for Islamic finance is expected to trigger rapid growth within the Islamic finance industry. To support these initiatives and meet the rising demand, Alpen is preparing to provide Shari’ah-compliant financial products. With our efforts we wish to contribute towards the goal to establish Dubai as the global capital of Islamic economy.” said Rohit Walia, Executive Chairman and CEO, Alpen Capital.

Alpen aims to launch their propriety Islamic product offering on receipt of approval from the Dubai Financial Services Authority for conducting Islamic Financial Business through an Islamic Window in the coming months. 


Posted by : Dubai PR Network Editorial Team
Viewed 6094 times
PR Category : Banking & Investments
Posted on : Monday, January 25, 2021  2:25:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : UAE Embraces Virtual Learning for Sustainable Economic Growt...
Next Story : Insurers becoming more Attracted to ETFs
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Tanagra Celebrates Its 40th Anniversary Across The Middle East [3776-Views]
International Women's Day Make-up Picks from CATRICE Cosmetics [3469-Views]
Abbott Researchers Find Rare Group of People with Controlled HIV Who Could Be a Key to Unl... [3415-Views]
The Power of Choice: Potent New Defender V8 and Exclusive Special Editions Join the Range [3145-Views]
FEASTIVAL by Festival Plaza Launches With 25,000 AED Worth of Prizes This March [3009-Views]
Happy Mother's Day with Toric Fleur [2985-Views]
Tide and Ariel to Donate a Million Antivirus Washes to Frontliners in Hospitals Across Sau... [2714-Views]
EEG hosts the Can Collection Day - 1500 Kgs of Aluminium Cans was recycled [2665-Views]
Pandora Unveils the Power of Sisterhood [2657-Views]
Introducing Makhmariah by LOOTAH: Exclusive Fragrant Oil Passed Down Through Generations f... [2653-Views]
Ministry of Health Concludes Participation in UAE Innovation Week 2021 [2644-Views]
COVID-19 Cash Burn Continues -Urgent Preparations for Restart- [2509-Views]
Samsung Announces Trade-in Initiative for Consumers Purchasing the Galaxy S21 Series Acros... [2255-Views]
#TogetherForOurPlanet: British Embassy Riyadh Launches Social Media Campaign to Encourage ... [2226-Views]
Chronograph for the Cup [2058-Views]
Celebrate the Brilliance of Women with Tanishq's Great Diamond Collection [2046-Views]
SEHA Urges the Community to Donate Blood to Save Lives [2025-Views]
RAK Hospital Introduces New Treatment Option to Prevent Severe COVID-19 Cases [1952-Views]
AMAALA Signs MoU With the Saudi Federation for Cyber Security, Programming and Drones [1841-Views]
New Report Offers Global Startups and Investors Insights on Dubai's Entrepreneurial Ecosys... [1820-Views]
SEHA Introduces Home Monitoring Program for Infants With Heart Abnormalities [1816-Views]
Trying to get the most out of your new HUAWEI FreeLace Pro neckband? Here are a few tips a... [1816-Views]
WarnerMedia and OSN Launch Adult Swim Pop-Up Channel this Month [1726-Views]
Here is Why the HUAWEI FreeLace Pro is our Favourite for One of the Trendies Neckband Earp... [1693-Views]
Samsung Unboxes its 2021 Lineup, Letting You Discover More of What You're Passionate Abou... [1656-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories