Leonteq Enters Partnership for Shariah-Compliant Products
Swiss fintech company Leonteq, which maintains a strong presence in Singapore, announced on Wednesday that it has initiated a new partnership with Emirates Islamic, one of the leading financial institutions in the United Arab Emirates.
Building on its expansion into the Gulf region, Leonteq launched a Shariah-compliant trust certificate issuance programme in 2022 with IBDAA Certificate Issuer (IBDAA), a dedicated Islamic issuance entity as issuer of trust certificates.
Leonteq has now appointed Amanie Advisors (a reputable Shariah Advisory firm) to advise on the Shariah aspects of the Programme and the subsequent projects and partnerships involving IBDAA.
Lifecycle Management
As part of this new partnership, Emirates Islamic will co-design certain trust certificates issued by IBDAA and distribute these products within their client network, while Leonteq will provide end-to-end services, including issuance arrangement, Shariah-compliant hedging, and lifecycle management.
Emirates Islamic, part of Emirates NBD Group, is a leading Islamic financial institution in the United Arab Emirates (UAE). Founded in 2004 as Emirates Islamic Bank, the bank has established itself as a major player in the highly competitive financial services sector in the UAE.
Milestone for the Islamic Structured Product Business
This partnership is a significant milestone for the Islamic structured product business, Leonteq writes. It combines the firm’s core strength in terms of investment solutions services, structuring capabilities, and technology integration with Emirates Islamic’s innovative approach to transform the banking landscape, strong credit rating (A+ from Fitch), and extensive reach within the UAE wealth management market.
«This collaboration will allow clients of Emirates Islamic to benefit from Leonteq’s longstanding expertise in white-labelling solutions and marks a milestone for Leonteq’s growth ambitions in the Middle East,» Christian Spieler, CEO of Leonteq, said.
