Dubai, UAE: Bank Lombard Odier & Co Ltd (“Lombard Odier”) is pleased to announce the launch of a full suite of Shariah-compliant investment solutions – the first in its 222-year history. Lombard Odier’s exclusive discretionary mandate has been officially certified as “Shariah compliant” by the eminent Shariah Supervisory Board of Amanie Advisors.
As an independently owned, family bank with a long-standing legacy, the new offering follows a tradition of social responsibility including a focus on developing sustainable and responsible investment solutions. With the goal of preserving the assets and values of clients at its core, the Shariah offering builds upon Lombard Odier’s legacy of 50 years in the Middle East.
Arnaud Leclercq, Limited Partner at Lombard Odier Group said: “While Lombard Odier has been proud to offer a range of solutions in line with Shariah principles, including Shariah-compliant investments since 2012, this is the first time we are offering a unique Shariah-compliant discretionary mandate. The decision to offer fully customisable Islamic investment solutions globally is a testament to both our commitment to our clients and our commitment to growth within the Gulf Cooperation Council (GCC).”
Christophe Lalandre, Managing Director at Lombard Odier’s Representative Office in Dubai said: “Given Lombard Odier’s history in the region, the Shariah-compliant offerings display our commitment to growth in the UAE, which is among the strongest markets for Islamic finance. As Islamic finance continues to gain momentum exponentially, the link between Shariah-compliant investments and the promotion of social responsibility becomes increasingly clear. We find this to be the case especially in the UAE, where the strong emphasis on philanthropy, innovation and sustainability leading up to Vision 2021 fosters the growth of Islamic finance.”
Driven by Lombard Odier’s founding principles of integrity, responsibility and long-term vision, the fully customisable and selectively chosen Shariah-compliant offerings are aligned with Lombard Odier’s pre-existing investment strategy. The firm favours high liquidity and prudent investments, and as one of the world’s most highly capitalised banks (CET1 ratio of 26.5% at end-2017), we do not rely on external debt.
In fact, socially responsible investments (SRI) have been an integral part of Lombard Odier’s DNA throughout its history in an effort to match client needs and values. As a pioneer in sustainable investing guided by moral and ethical codes for ESG (environment, social and governance), Lombard Odier’s team of experts across the world have developed a tailor-made approach to asset management and wealth planning.
About Lombard Odier
Lombard Odier is a leading global wealth and asset manager. For 222 years and through 40 financial crises the Group has combined innovation and prudence to align itself with the long-term interests of private and institutional clients. The Group is solely owned by its Managing Partners, has a highly liquid balance sheet and is very well capitalised.
Lombard Odier provides a complete offering of wealth services, including succession planning, discretionary and advisory portfolio management, and custody. Asset management services are offered through Lombard Odier Investment Managers (LOIM). The Group has also created cutting-edge banking technology which is distributed to other financial institutions.
The Group had total client assets of 281 billion USD at 31 December 2017. Headquartered in Geneva since 1796, the Group has 27 offices in 23 jurisdictions.
For more information: www.lombardodier.com
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