KSA based eWTP Arabia Capital will soon launch its Sharia compliant eWTP Arabia Technology Innovation Fund. It partnered up with Bahrain based advisory firm, Shariyah Review Bureau (“SRB”) to oversee the fund’s structuring and sharia complaint investments.
eWTP Arabia Capital positions itself as a link connecting the MENA region and the most advanced technological solutions available worldwide. On this occasion, Jerry Li, founder and managing partner of eWTP Arabia Capital said “The company creates powerful digital ecosystems in emerging markets by leveraging proven global expertise, local partnerships, cutting-edge technology solutions, and insights”. “With the support of renowned investors and influential partners, this innovative fund focuses on investing in the media, technology, and telecom sectors within the Saudi Arabia, UAE, Kuwait, and MENA markets.
On assigning SRB, Jerry Li said “Having SRB as a Sharia Advisor enhances trust among stakeholders regarding the Fund’s Sharia compliance. The advisory firm’s oversight is anticipated to greatly improve the Fund’s Sharia control functions and significantly enhance its Sharia compliant investments, ultimately enabling it to offer superior Islamic financial services to our customers”.
Shariyah Review Bureau is a leading Sharia Advisor in the Islamic financial industry. Licensed by the Central Bank of Bahrain it serves hundreds of clients from various industries globally. The demand for its services has increased as financial institutions seek to streamline Sharia compliance management and reduce the expenses of Sharia Boards. It has supervised more than 400 funds and with a team of dedicated Sharia Consultants and auditors located in Bahrain, SRB has established a strong reputation in the industry.
Yasser S. Dahlawi, Founder and CEO of SRB, stated “Our aim is to offer a comprehensive Sharia advisory service to asset managers of all sizes, which includes Sharia certification, audit, and Sharia equity screening services. We are delighted to collaborate with the eWTP Arabia Capital team and assist them in ensuring Sharia compliance across their investments as they enter the GCC market with their technologically innovative sharia-compliant fund”.
