Innovation is occurring at a rapid pace in Islamic finance, spurring growth and development in this global market. Investment management firms need to continually evolve their product and service offering to stay ahead of the competition and attract new capital.
One firm that demonstrated this last year is Saudi Arabia-based global asset manager Sidra Capital – Euromoney’s most innovative Islamic fund manager for 2024. Its chief executive is
Muhammad Currim Oozeer and the chairman is Hani Othman Baothman.
The firm, through its Singapore subsidiary, Sidra Capital Pte Ltd, designed and launched a new shariah-compliant open-ended investment fund under Singapore’s new variable capital company structure, which will invest in commodity trade financing in the Asia-Pacific region.
VCCs are a new legal entity structure for all types of investment funds in Singapore. They can be formed as a single, standalone fund or as an umbrella fund with two or more sub-funds, each holding different assets.
The