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The Bahrain Financial Exchange (BFX) has employed the consultancy services of the SHAPE™ Financial Corp. SHAPE is a leading specialist in the formation of solutions for Islamic finance markets and will assist the BFX in the development of Sharia compliant Islamic finance products for listing on the Exchange.
Listing and trading in innovative Islamic products will be a key aspect of the BFX. Working with SHAPE will enable the Exchange to establish its product line in this area and benefit from the strong relationships SHAPE has in the Islamic finance industry.
The initial work will be conducted across Islamic capital markets, Sukuks, REITs, ETFs and Murabaha sectors.
Commenting on the announcement of SHAPE, Arshad Khan, Director, BFX said, ‘we are delighted to have the services of a leading Islamic finance consultancy working with the BFX. It is our aim to bring innovations in Islamic finance products that can be listed and successfully traded on our Exchange. The Sharia compliant Islamic finance industry is a market worth approximately US$700-800bn and by listing the right products on the BFX we are confident about tapping into this growth market with significant potential.’
Abdulkader Thomas, President and CEO of SHAPE said, ‘this is a fantastic opportunity to help develop much needed solutions for the Islamic finance markets to facilitate their development and growth. The BFX’s aim to become a pioneer in this sector combined with SHAPE’s expertise will add great value and impetuous to these important markets.’
