Nctm Studio Legale, a leading law firm in Italy, has hired Shariyah Review Bureau (SRB), a global Sharia advisory company, to help it structure an Islamic bond.

Under the agreement, SRB will collaborate with Nctm to help structure and certify the mini-bonds in light of Sharia guidelines.

“Italy has always been a superior option for alternative finance, a hub for international business and a center for innovative financial products. We being an Italian law firm focused on capital markets, project finance, banking, insurance sectors and technology believe that introducing Islamic financial bond will be an important milestone for our clients and our firm,” said Stefano Padovani, partner and head of Banking & Finance at Nctm.

"Nctm selected them [SRB] because of their impressive track record for delivering transformational Sharia compliant products that can have a positive impact on business outcomes. Working with SRB, increases our degree of confidence in meeting our objectives and provides us flexibility to add scale as the Islamic Bond market develops in Italy,” he added.
Yasser S Dahlawi, CEO of SRB, said: “We have been working hard to continuously improve our professional approach, Sharia Consultative systems and Certificate turnaround capabilities for our clients on a national and international basis.”

Commenting on the Italian engagement he said: “We are very pleased to share our expertise and thought leadership initiatives with clients like Nctm. Our proven Sharia Advisory solutions are leveraged by organizations worldwide, and we look forward to providing the highest level of service excellence to Nctm.”

Mansoor M Ahmed, assistant general manager at SRB’s Bahrain office said: “We are honoured to have been selected by Nctm for designing the first of its kind Sharia compliant Islamic Bond. We expect this to open new venues of connecting capital with businesses in Italy and also help provide new opportunities to the SME sector."

Shariyah Review Bureau team has many years of experience in a range of leading industries, specializing in investment funds, banking, insurance, agriculture, and asset management, a statement said, adding that the demand for its services has quadrupled over the years with 2015 being the most eventful year. – TradeArabia News Service