Saturday 9 December 2023

Yasser S Dahlawi

Geneva’s BlueBox enlists SRB to oversee new tech fund

MANAMA, Bahrain, August 11, 2022

Geneva-based BlueBox Asset Management has partnered with Bahrain’s Shariyah Review Bureau (SRB) to oversee the  structuring and sharia complaint investments of its newly launched Islamic Global Technology Fund.

The BlueBox Global Technology Fund was launched in 2018, as Portfolio Manager William de Gale’s  strategy of focusing principally on companies that are enabling the direct connection of computer systems to the real world.

On the launch of a Shariah compliant Islamic global technology fund, William De Gale said: "The BlueBox Islamic Global Technology Fund is a Shariah-compliant version of the successful BlueBox Global Technology Fund, bringing one of the longest and strongest track records in Global Technology to the world of Islamic investing. We are investing not in technology, but in technology businesses, and these businesses must create value for their outside investors."  

Speaking on the newly assigned Shariah Advisor, William De Gale said: “I’ve wanted to create an Islamic global technology fund for 10 years! Shariah constraints favour the Technology sector and bringing Shariyah Review Bureau on board to supervise our Shariah compliance affairs will further strengthen trust in our stakeholders and also give us significant scale with low input costs for certifying and auditing Shariah compliant fund and investments.”  

 Shariyah Review Bureau is licensed by the Central Bank of Bahrain and has hundreds of clients covering multiple industries around the world. Its services have grown in demand as financial institutions continue looking for ways to speed-up the Sharia compliance management process and to reduce costs on Sharia Boards overheads.

Over the years, Shariyah Review Bureau has strongly established itself as one of the leading Sharia Advisory companies in the Kingdom of Saudi Arabia. The Central Bank of Bahrain licensed firm leads with a dedicated team of Sharia Consultants and Sharia auditors based out of Bahrain and also has 31 scholars covering 19 countries. It currently oversees the Sharia compliance management of 30% of the cooperative Insurance firms listed on Tadawul.  

 “We strive to provide a holistic Shariah advisory service for asset managers of all sizes, providing them with the full spectrum of Shariah certification, audit and Shariah equity screening services they need to help meet their goals,” said Yasser S Dahlawi, Founder and CEO of Shariyah Review Bureau.

“We are pleased to work with the BlueBox team and stand ready to help them navigate through Shariah compliance and wish the team long-term success as it enters the investment market with a technological shariah compliant fund." – TradeArabia News Service


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