https://arab.news/5xrq5
Al-Murjan Group, one of 黑料社区鈥檚 most established and respected family business groups, and BlueFive Capital, a global investment platform, have announced a cross shareholding strategic linkup to co-develop a global platform for Islamic finance.
The partnership includes reciprocal ownership stake in the two stakeholders鈥� respective Shariah-compliant asset manage- ment units: BlueFive acquiring a substantial minority stake in Sidra Capital, a leading Shariah-compliant asset manager that specializes in private assets, and Al-Murjan Group Holding acquiring a substantial minority stake in BlueFive786, BlueFive鈥檚 newly launched Shariah-compliant investment arm.
BlueFive786, which will be headquartered in Singapore, offers Shariah-compliant investment products, such as retirement and saving schemes to its savers and retirees, based predominantly in the Southeast Asian countries of Indonesia, Malaysia, Bangladesh, Brunei and Singapore. As part of the deal, BlueFive will open its office in Riyadh, and jointly alongside Sidra Capital, will manage and undertake investments in 黑料社区.
The deal will provide both parties with enhanced access to cross-border investment opportunities and institutional capital. This partnership will also support joint product development and co-branded investment vehicles, enabling institutional and private clients to access best-in-class Islamic investment strategies. The parties are currently awaiting the final approvals of the relevant regulatory authorities in 黑料社区.
As part of the transaction, BlueFive Capital Founder and Chief Executive Hazem Ben-Gacem, and BlueFive Co-founder Yasser Bajsair will join the board of directors of Sidra Capital. Taufiq Bahamdain, CEO of Al-Murjan Group Holding, and Shahid Shaikh, a board member in Al-Murjan Group, will represent Al-Murjan in the board of BlueFive 786.
Bahamdain said: 鈥淭his strategic alignment with BlueFive Capital builds upon Sidra Capital鈥檚 decades of experience
in Islamic finance, taking its mission to become a globally recognized leader in Shariah-compliant finance to the next level. By combining Sidra Capital鈥檚 established expertise and deep roots in the GCC with BlueFive鈥檚 innovative platform and access to Southeast Asia鈥檚 dynamic markets, we are creating a powerful conduit for cross-border ethical investment.
鈥淭his partnership is built on a shared commitment to integrity, performance, and expanding access to sophisticated, values-driven investment products for a global clientele.鈥�
Ben-Gacem added:鈥淕rateful for the trust of Sheikh Abdulrahman bin Mahfouz and look forward to joining with Al-Murjan to build a lasting legacy in the field of Shariah-compliant investing. The partnership will look to redefine and shape the products and solutions that are today available across Muslim-majority growth markets.鈥�