Islamic Finance

The Saracen Group was very active in Islamic Trade and Project Finance throughout the period between 1992 and 2008, during which time, over US $12 billion of finance was successfully concluded. Saracen has also previously arranged the funding of crude oil and other oil products through Islamic Trade Finance, at a time when emerging markets offered higher fixed-income returns. These transactions were tailor-made for the various investment strategies encompassing both investment grade type risk at one end of the spectrum, and the higher risk typically relating to Emerging Markets at the other end.

Saracen has also previously raised project finance and arranged lease finance for container ships, oil rigs and aircraft, based on principles of Murabaha, Ijara, Istithna and Musharaka.

It should be clarified, that in typical Trade Finance transactions, a possible partner does not pass on any funds to Saracen but instead directly to the bank issuing the Trade Letter of Credit. These transactions are term flexible from 90 days to 5 years.

The organisation has very close ties with all the major Gulf-based Islamic Banks with a key advantage of being close to some of the most senior advisory Sharia Jurisprudence committees in the Gulf.
Historically, Saracen has also acted as a consultant and advisor to some of these key Islamic organisations. The Group’s role as advisor has also involved seeking means of structuring modern, commercial finances, in accordance with Islamic Sharia principles. This involves financial modelling and testing these structures with the aforementioned clerical jurisprudence committees. It is anticipated that this activity will increase in the future due to the expansion of the Islamic Banking base and the re-introduction of our Gulf-based presence in 2017.

ISLAMIC FINANCE

Then return thereafter and thank me, remember what you have learnt of my deeds.

ANTARA