PRESS RELEASE | LEONTEQ LAUNCHES A SHARI’A COMPLIANT OFFERING
Zurich, 18 July 2022
Leonteq announced today that it has expanded its product offering with the launch of Shari’a compliant trust certificates.
Following the opening of its office in Dubai in 2021, and as part of its long-term growth strategy and ambition to service the broader Gulf Cooperation Council (GCC) market, Leonteq is expanding its product offering with the launch of Shari’a compliant trust certificates. The trust certificates are issued by IBDAA Certificate Issuer Ltd., a standalone special purpose vehicle company, under the Shari’a Compliant Trust Certificate Issuance and Offering Programme (“Programme”) with Leonteq Securities AG acting as lead manager and are designed to produce financial returns analogous to those of traditional structured investment products.
Amanie Advisors Limited (“Amanie”) has been appointed by Leonteq Securities AG to advise regarding the Shari’a compliance of the Programme. The Shari’a Supervisory Board of Amanie, consisting of four Islamic scholars, has opined that the Programme follows the requirements of the Shari’a principles. LME metals and other commodities required to enter into Shari’a compliant transactions are supplied by DD&Co through the automated platform ETHOS AFP™ by the DDCAP Group™, a market intermediary and financial technology solutions provider connecting the global Islamic financial market.
Under the Programme, Leonteq’s platform allows investors to benefit from a short time-to-market, a competitive minimum subscription size and access to a large array of asset classes, currencies and payoffs, including yield enhancement, capital protection, participation, warrants and FX payoffs.
Alessandro Ricci, Head Investment Solutions and member of the Executive Committee at Leonteq, stated: “We are very pleased to welcome IBDAA with its Shari’a compliant issuance programme to our platform. Today we take an important step in building our capabilities in Islamic finance to better serve our growing franchise in the Middle East.”
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Leonteq is a Swiss fintech company with a leading marketplace for structured investment solutions. Based on proprietary modern technology, the company offers derivative investment products and services and predominantly covers the capital protection, yield enhancement and participation product classes. Leonteq acts as both a direct issuer of its own products and as a partner to other financial institutions. Leonteq further enables life insurance companies and banks to produce capital-efficient, unit-linked pension products with guarantees. The company has offices and subsidiaries in 13 countries, through which it serves over 50 markets. Leonteq AG is listed on the SIX Swiss Exchange (SIX: LEON). www.leonteq.com
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The transaction structure relating to the trust certificates has been approved by the Shari'a Supervisory Board of Amanie Advisors Ltd. Prospective investors should not rely on such approvals in deciding whether to make an investment in the trust certificates and should consult their own Shari'a advisers as to whether the proposed transaction described in such approvals is in compliance with their individual standards of compliance with Shari'a principles.