Deutsche Bank announced today the launch of "Al Mi'yar", a first of its kind platform aimed at facilitating the issuance of Shari'a compliant securities.
"Al Mi'yar", from the Arabic "The Standard", is a Luxembourg domiciled platform, developed by Deutsche Bank, with Luxembourg Financial Group A.G. as the Shari'a investment manager and Deutsche Banks Trust & Securities Services group providing the settlement framework.
Geert Bossuyt, Deutsche Bank's Head of Structuring for the Middle East and North Africa, said "Deutsche Bank is extremely pleased to be again at the forefront of innovation in Islamic finance, as demonstrated by our ability to adapt all types of investment products and strategies to the Shari'a compliant world. Al Mi'yar will in my opinion revolutionize the issuance of securities in an Islamic manner. The platform meets all of the latest standards issued by the Accounting and Auditing Organization of Islamic Finance Institutions (AAOIFI) and hence should be globally acceptable."
Al Mi'yar will enable Islamic investors to meet their specific investment objectives by giving them exposure to different asset classes without compromising their Islamic beliefs. By comparison to other Islamic platforms, Al-Mi'yar maximizes efficiency and protection of investors' interests, while generating liquidity and returns.
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