2 days ago
Switzerland's Leonteq Partners with Emirates Islamic on Shari'a-Compliant Structured Products
Leonteq, a Zurich-based fintech company, announced today the formation of a partnership with Emirates Islamic, a financial institution in the UAE, to manufacture and distribute Shari'a-compliant structured products.
The collaboration builds on Leonteq's strategic move into the Gulf region.
In 2022, the firm introduced a Shari'a-compliant trust certificate issuance programme through IBDAA Certificate Issuer (IBDAA), a dedicated Islamic issuance vehicle. Amanie Advisors, a recognised Shari'a advisory firm, has been engaged by Leonteq to provide guidance on the Shari'a aspects of the programme and subsequent initiatives involving IBDAA.
Under this partnership, Emirates Islamic will co-develop certain trust certificates issued by IBDAA and offer these products through its distribution network.
Leonteq will support the initiative by providing a full range of services, including issuance arrangements, Shari'a-compliant hedging, and lifecycle management.
This collaboration marks a notable development in the Islamic structured product space, bringing together Leonteq's capabilities in investment solutions, structuring, and technology with Emirates Islamic's market presence, credit standing (rated A+ by Fitch), and reach in the UAE wealth management sector.
Clients of Emirates Islamic will gain access to investment solutions that were previously limited in availability or scale.
These products will be issued via IBDAA, which is among the first Islamic issuance entities able to offer a broad range of payoff structures across various asset classes, supported by automation and flexible investment thresholds.
Christian Spieler, CEO of Leonteq, commented:
'We are proud to partner with Emirates Islamic, a top tier institution in the Middle East. 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.'
Farid AlMulla, CEO of Emirates Islamic, said:
'We have always endeavoured to offer Islamic solutions that make a difference in the lives of our customers and beyond. This new partnership will enable our clients, in particular, to benefit from an even bigger product universe that further enhances their investment choices and access to global markets.'
Emirates Islamic, a member of the Emirates NBD Group, was established in 2004.
It offers a wide range of Shari'a-compliant retail, business, and corporate banking services through a network of 40 branches across the UAE.
