Sidra Capital, INOKS Capital discuss Islamic trade financing

Sidra Capital and its Swiss-based JV partner INOKS Capital organized an expert roundtable titled ‘Islamic trade financing: Connecting the world’ in corporation with the government of Dubai, the Dubai Economic Council, Dubai Islamic Economy Development Centre, Dubai International Financial Centre and Dubai Financial Supervision Authority this week.
Earlier this year, both companies caused a stir in the world of Islamic finance when they announced that the Sidra-Ancile Global Structured Trade Investment Fund is the largest Islamic structured trade investment fund in the world.
Currim Oozeer, deputy CEO of Sidra Capital, commented: “We are proud of this investment as we introduced a new product in the alternative asset space and we also managed to open Africa as an investment destination for our investors in the GCC region. Sidra-Ancile invests across Africa, Eastern Europe, Asia and MENA region supporting growth in the real economy by actively providing working capital to non-speculative value added SMEs focusing on agricultural commodities, energies and metals.”
Nabil Abdul-Massih, CEO of INOKS Capital, said: “Our presence in Africa and more specifically in the ECOWAS dates back to 2006 already. The continent and the sub-region have played an important role in INOKS Capital’s Funds investment activities.”
Oozeer added: Recent events in the commodity space have also worked in our favor. Our Sidra-Ancile fund follows a non-directional strategy meaning that we are not taking any price risk on the underlying commodity that we financed. In 2014, the fund made 9.1 percent profit and we are on track to achieve this in 2015. With wobbly global economic growth, nervous stock markets, and volatile currencies, investors are looking for alternative and secure investments. Trade finance offers this.”
The panelists further gave an insight into the current climate for trade finance and the effect of volatile commodity prices, and explored the latest opportunities for investors.