As Italy's demand for mini-bonds grows, Nctm Studio Legale (Nctm), the country's leading law firm, has hired industry experts Shariyah Review Bureau (SRB) to help it structure an Islamic Bond.
Under the agreement, SRB, a global Sharia Advisory company, will collaborate with Nctm to help structure and certify the mini-bonds in light of Sharia guidelines. "Italy has always been a superior option for alternative finance, a hub for international business and a center for innovative financial products. We being an Italian law firm focused on capital markets, project finance, banking, insurance sectors and technology believe that introducing Islamic financial bond will be an important milestone for our clients and our firm," Stefano Padovani, Partner and Head of Banking & Finance at Nctm, said in a release.
Speaking on the selection of Shariyah Review Bureau, Stefano writes, "Nctm selected them [SRB] because of their impressive track record for delivering transformational Sharia compliant products that can have a positive impact on business outcomes. Working with SRB, increases our degree of confidence in meeting our objectives and provides us flexibility to add scale as the Islamic Bond market develops in Italy."
Shariyah Review Bureau team has many years of experience in a range of leading industries, specializing in Investment Funds, banking, insurance, agriculture, and Asset Management. The demand for their services has quadrupled over the years with 2015 being the most eventful year. The firm has a track record of helping businesses scale and create Sharia compliant products by bringing new perspective, fresh thinking, and product structuring expertise. It remains focused on building new engagements, remain innovative and strive for ways to improve clients experience.
Yasser S. Dahlawi, CEO of SRB, writes from his Saudi office, "We have been working hard to continuously improve our professional approach, Sharia Consultative systems and Certificate turnaround capabilities for our clients on a national and international basis." Commenting on the Italian engagement he writes, "We are very pleased to share our expertise and thought leadership initiatives with clients like Nctm. Our proven Sharia Advisory solutions are leveraged by organizations worldwide, and we look forward to providing the highest level of service excellence to Nctm."
Mansoor M. Ahmed, Assistant General Manager at SRB's Bahrain office adds, "We are honored to have been selected by Nctm for designing the first of its kind Sharia compliant Islamic Bond. We expect this to open new venues of connecting capital with businesses in Italy and also help provide new opportunities to the SME sector."
© Press Release 2016