Latest news with #Kuwait-based
Business Wire
08-07-2025
- Business
- Business Wire
Alpaca and ZAD Partner to Bring Shariah-Compliant Investing Globally
NEW YORK & KUWAIT CITY--(BUSINESS WIRE)-- Alpaca, a self-clearing broker-dealer and brokerage infrastructure API, and ZAD, a leading Kuwait-based investment platform for Shariah-compliant US stocks and ETFs, today announced their strategic partnership to expand access to Shariah-compliant investment products. This partnership continues to open financial access for investors seeking to align their financial growth with Islamic principles. 'If we were a conventional investment application, we would not have reached the growth levels that we have in the past couple of years. It's very important for the people in the region,' explains Abdullah Alotaibi, ZAD's Co-Founder and Deputy CEO. Share With global Islamic finance assets surpassing $5.5 trillion USD in 2024, a report from Standard Chartered forecasts they could reach $7.5 trillion USD by 2028. This is largely from key markets like Saudi Arabia, Malaysia, Kuwait, and the UAE, with countries across Southeast Asia and Africa seeing increased demand for Shariah-compliant financial solutions. Recognizing this, ZAD is expanding access to their local Kuwait market and Gulf Cooperation Council (GCC) markets like Saudi Arabia. Their expansion plans and commitment to making Shariah-compliant investing accessible has been a cornerstone of their success. 'If we were a conventional investment application, we would not have reached the growth levels that we have in the past couple of years. It's very important for the people in the region. They really appreciate it, they want it, and they're very careful with what they buy,' says Abdullah Alotaibi, ZAD's Co-Founder and Deputy CEO of Fintech Brokerage. ZAD has partnered with Alpaca to build these products, including Shariah-compliant Instant Funding, which was launched recently. They are also collaborating to deliver margin trading, options trading, and high-yield cash accounts, becoming one of the leading platforms to offer these products in a Shariah-compliant way. While building Shariah-compliant infrastructure has presented unique challenges, the solutions developed with Alpaca's Broker API are scalable across other Islamic regions. For instance, the margin trading product is an asset-backed lending model rather than interest-based, adhering to Islamic law. 'There are service providers that tell you, 'this is what we have, take it or leave it.' Not Alpaca,' says Abdullah. 'They listen to us. They understand the region well. They're helping us offer the best possible products to our clients.' 'We're grateful to be innovating with ZAD in the rapidly growing Islamic finance and are excited to be their partner in delivering Shariah-compliant margin trading, options trading, instant funding, and more. Shariah-compliance is a key focus at Alpaca as we look to support and expand financial accessibility globally,' says Yoshi Yokokawa, CEO and Co-Founder of Alpaca. About Alpaca Alpaca is a US-headquartered self-clearing broker-dealer and brokerage infrastructure for stocks, ETFs, options, fixed income, and 24/5 trading – raising over USD170 million in funding. Alpaca is backed by top-tier investors globally, including Portage Ventures, Spark Capital, Tribe Capital, Social Leverage, Horizons Ventures, Unbound, SBI Group, Derayah Financial, Elefund, and Y Combinator. About ZAD ZAD is a Kuwait-based digital investment platform, offered by The Securities House, that provides global stock market access and offers Shariah-compliant products. ZAD aims to simplify the investment and trading process for people who adhere to the principles of Shariah. Options trading is not suitable for all investors due to its inherent high risk, which can potentially result in significant losses. Please read Characteristics and Risks of Standardized Options before investing. All investments involve risk; for more information, please see our Disclosure Library. Brokerage services are provided by Alpaca Securities LLC (member FINRA / SIPC), a subsidiary of AlpacaDB, Inc. Technology and Services offered by AlpacaDB, Inc. This is not an offer, solicitation, or advice to buy, sell, or open accounts in any jurisdiction where Alpaca is unlicensed.
Daily Tribune
16-06-2025
- Business
- Daily Tribune
Bahrain eyes Nigeria, Africa's largest economy
TDT | Manama Bahrain is deepening its outreach to Africa's largest economy, as the Bahrain Chamber signalled interest in boosting trade and investment ties with Nigeria during high-level talks on Sunday. Africa Strategy Chairman H.E. Sameer Nass received H.E. Murtala Jimoh, the Kuwait-based Charge d'Affaires of the Federal Republic of Nigeria accredited to Bahrain, for a meeting focused on bilateral trade, which reached $24.7 million in 2024. The discussion centred on expanding cooperation in sectors such as agriculture, agro-processing, and energy. Ambassador Jimoh suggested signing a Memorandum of Understanding (MoU) between the Bahrain Chamber and its Nigerian counterpart to facilitate direct links between entrepreneurs, business delegations, and investment forums. Chamber Role H.E. Nass highlighted the Chamber's role as a key enabler of Bahrain's economic diplomacy, noting that building ties with emerging economies like Nigeria is part of a broader vision to diversify trade partners and open up new global corridors for Bahraini businesses. H.E. reaffirmed the Chamber's commitment to working with both brotherly and friendly nations to strengthen private sector growth and global integration. Investment Potential H.E. Ambassador Jimoh, in turn, spoke about Nigeria's economic reforms and ongoing diversification, positioning the country as an appealing market for foreign investors from Bahrain. He expressed confidence that formal collaboration could unlock win-win opportunities. The meeting was also attended by Second Vice-Chairman Mohammed Al Kooheji, Vice-Treasurer Waleed Kanoo, and Board Member Youssuf Salahuddin. The Chamber is expected to explore next steps in formalising ties with Nigeria in the weeks ahead.
The Hindu
13-06-2025
- General
- The Hindu
Ahmedabad plane crash: Couple's long-awaited family reunion in the U.K. ends in tragedy
Ahmedabad-based Pinakin Shah and his wife Rupaben were looking forward to their journey to the United Kingdom, where their 30-year-old son, Rushab, had recently purchased a house in Glasgow and organised a housewarming ceremony. The trip was especially significant for the couple, as it also marked a rare opportunity to reunite with their daughter Janaki and her two daughters. Janaki, who lives in Kuwait, was to join them in the U.K., making it a rare occasion for the entire family to come together. However, those plans came to a tragic halt when the couple boarded the ill-fated London-bound Air India flight that crashed shortly after take-off from Ahmedabad on Thursday afternoon. The accident claimed 265 lives, including 241 passengers. Pinakin Shah, 62, was employed as a manager at a box manufacturing company in Ahmedabad, while 58-year-old Rupaben was a homemaker. Speaking to PTI, Utsav Shah, a relative, said, 'My uncles had gone to meet him [Pinakin] on Thursday morning. They greeted him [for his flight journey to London]. As most of them are old, they just met him but did not drop him at the airport.' The Shah couple were photographed smiling together outside the airport, moments before boarding the flight, he added. 'Rushab had bought a new house [in Glasgow]. The family was excited as his Kuwait-based sister Janaki and her two grandchildren were also going to be in the U.K. Since Rushab and Janaki resided in two different countries, the coming together of the entire family was a rare occurrence,' Mr. Utsav said. Following news of the crash, Janaki arrived in India on Thursday night and provided her DNA samples to assist in the identification process. Rushab arrived early on Friday. 'Rushab is traumatised and inconsolable. He is losing his senses because of the shock,' Mr. Utsav said.
CairoScene
03-06-2025
- Entertainment
- CairoScene
Egyptian Photographer Captures Qatar National Museum in Monochrome
Based in Kuwait, Thabet was announced as the winner of the 2nd prize in the architecture category at Paris Photo Awards. Kuwait-based Egyptian photographer Ahmed Thabet clinched the 2nd prize in the architecture category at Prix De La Photographie Paris by capturing the exterior of Qatar National Museum, which was designed by Ateliers Jean Nouvel. Finding solace in photography, Thabet - a pediatrician by profession - procured his first camera to capture the innocence of his child, and quickly grew an award-winning portfolio. The architectural marvel in Qatar, with its desert rose form, became one of the latest muses for Thabet's artistic vision. The Qatar National Museum, an elliptical circuit around a central court known as the 'Howsh', serves as a fusion of culture and climate in Qatar. Thabet's lens brings to life the shadows that dance around the museum's sand-coloured concrete cladding. Thabet's abstract monochrome photography transforms the museum's interlocking disks, varying curvatures and large openings into an architectural symphony. Transcending the mere representation of a building, the juxtaposition of light and shadow in the architecture - accentuated by the photography - invites the eye to journey through the design. The abstraction elevates the museum's architecture, offering a glimpse into the soul of this cultural gem.
Biz Bahrain
28-05-2025
- Business
- Biz Bahrain
GFH Capital Announces a Partnership with Al Tijaria in the GCC Logistics Sector
GFH Capital (GFHC), a KSA based Subsidiary of GFH Financial Group (GFH), a leading regional financial institution, has announced a strategic partnership with The Commercial Real Estate Company K.P.S.C. ('Al Tijaria'). Under the agreement, Al Tijaria, a prominent Kuwait-based real estate company will act as a technical advisory for one of GFHC's Logistics Funds and will gain exposure to the Group's growing investments and exposures in the warehousing and logistics sector across Saudi Arabia and the wider Gulf region. GFH Capital is delighted to work with Al-Tijaria as an experienced real estate company on this opportunity and is confident that this partnership will lead to developing a successful logistics platform regionally. This partnership underscores GFH Group's growing reputation in structuring and delivering investment opportunities to its partners. GFH Financial Group has significantly expanded its investments in the logistics sector, with an estimated exposure of approximately US$2 billion diversified across various logistics facilities, including cold storage, last-mile delivery hubs, and fulfillment centers, ensuring a diversified presence across the logistics value chain. Al Tijaria remains committed to enhancing performance and delivering strong results by creating new opportunities and diversifying income sources across KSA, the GCC, and international markets. With a proven track record of delivering landmark projects, the company continues to pursue sustainable growth, strengthen shareholder value, and reinforce its financial position. Through this collaboration, Al Tijaria leverages GFH's market expertise to capitalize on the growing opportunities within the logistics sector, further solidifying its strategic growth trajectory. Commenting on the partnership, Mr. Razi Al Murbati, CEO of GFH Capital, said, 'We are pleased to partner with Al Tijaria in this critical sector. It reflects the growing importance of logistics as a key driver of economic development in KSA and the wider Gulf and the strong opportunities this expansion is creating. This partnership aligns with our strategy to offer high-growth investments that deliver sustainable returns while also supporting regional development goals.' Eng. Abdulmutaleb Marafie, CEO of Al Tijaria, added: 'Foreseen partnership with GFH Capital provides us with unique access to the region's rapidly expanding logistics market. Together, we aim to develop state-of-the-art infrastructure and create value for the investors.' The collaboration reaffirms the commitment of both organizations to advancing logistics infrastructure, fostering innovation, and supporting the region's economic diversification goals.
