Sidra Capital joins Malaysia's Bursa Al-Sila' to boost Islamic finance reach
The move positions Sidra Capital alongside central banks, international financial institutions, and global commercial banks.
"Sidra Capital is a well-established player in Islamic asset management, specialising in real estate and private finance.
"As we expand in the Asia-Pacific region, direct access to BSAS strengthens our competitive edge in offering Shariah-compliant solutions,' said its Vice Chairman Ghassan Soufi in a statement.
Meanwhile, Sidra Capital Singapore Chief Executive Officer Arif Rahim said direct access to BSAS enhances its ability to execute private credit transactions more cost-effectively by removing intermediaries.
BSAS is a key platform for Shariah-compliant liquidity management, particularly for tawarruq (commodity murabaha) transactions. Since its launch in 2009 with a daily trading volume of just US$20 million, BSAS has grown significantly, now averaging approximately US$10 billion in daily trades. (US$1=RM4.28)
Previously, such trades were typically executed through brokers on global commodity exchanges such as the London Metal Exchange.
BSAS, part of Bursa Malaysia Berhad , eliminates the need for traditional brokers and leverages advanced trading technology to streamline Islamic finance transactions, offering institutions greater speed and transparency. - Bernama
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