Italy's Islamic Bond: NCTM Seeks to Open a Window of Opportunities for Italian Sme's
Italy's Islamic Bond: Nctm seeks to open a window of opportunities for Italian SME's
As Italy’s demand for mini - bonds grows, Nctm Studio Legale (Nctm), the country's leading law firm, has hi red 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 opt ion 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 select ion of Shariyah Review Bureau, Stefano writes, "Nctm selected them [SRB] because of their impressive t rack 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 event full year. The firm has a t rack 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."
ISFIN is the world’s leading platform for professional firms specializing in Islamic Finance, investments from and to the Muslim world and the Halal industry. The alliance covers more than 75 jurisdictions around the world. ISFIN’s membership is composed of the most innovative and highly regarded independent law firms, audit & accounting firms and real estate companies in their field.
Laurent Marliere, CEO ISFIN
+ (32) 475422149
Stefano Padovani, Principal NCTM
Tel +39 02 72551.1 – fax: +39 02 72551.501 dir.: +39 02 72551.3102