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Pacific Tycoon Appoints SRB As Its Shari’a Advisor To Expand Into Islamic Market


 
PRLog - March 18, 2014 - MANAMA, Bahrain -- Pacific Tycoon, a global leader in Container Leasing Programs, today announced that it has delegated Shariyah Review Bureau (SRB) as its Shari’a Advisor to help develop, establish and supervise its Shari’a compliant container leasing investment plan. The agreement will see SRB provide review, certification, technical consultation support and annual Shari’a Audits for Pacific Tycoon’s unified leasing platform. SRB will oversee all Islamic clientele applications as well as carry periodical Sharia compliance checks on pertinent sales portfolio across the globe. With clients from Europe, GCC, Asia and Australia, SRB is considered as one of the largest Shari’a Advisory firms in the world.

Located in Hong Kong and with an international leasing client base of 7,200 container owners, spanning a network of half a million containers under lease, Pacific Tycoon believes that its Islamic investment option will be a big hit in the rapidly growing financial markets.

Ted Mallory, Director of Operations, at Pacific Tycoon explained that “We see our Islamic investment idea as a huge transformative asset-backed savings plan and not the marginal, incremental financial program quite often seen in conventional businesses.” Commenting on the partnership he added, "When we initially thought of developing a Shari’a compliant leasing solution we were struck with a challenge of how to manage our business, stay on top of all the Islamic law requirements, and still meet the day-to-day Shari’a compliance responsibilities”. “Not surprisingly, the first name that came up when we decided to outsource the complete function of Shari’a certification and compliance was Shariyah Review Bureau.” Ted continued “Their partnership with us is expected to strengthen our investment plan’s credibility and presence in the Shari’a compliant market and ensure excellent support for Islamic clients.  They bring to the engagement a wealth of Islamic investment experience and an enviable global track record in successfully delivering large scale Shari’a compliant international projects.”

Mr. Yasser Dahlawi, CEO at Shariyah Review Bureau said “There is a strong trend of outsourcing in the Islamic financial industry, not only in reducing scholarly related expenses but also in lowering the risks of overlooking or misinterpreting Shari’a requirements. Clients from around the world are increasingly relying on our expertise.”  “Combined, we have the broadest international clientele platform and most diversified scholarly network in the Islamic industry. We provide services to everyone, from many of the leading multinational companies, to individuals in some countries like Germany and New Zealand.” On being assigned as the Shari’a Advisor for Pacific Tycoon, Mr. Yasser commented “They have built a strong reputation in the global container leasing market for their expertise and facility to deliver innovative multi-channel investment handling solutions. We are delighted to announce this partnership with Pacific Tycoon.”

“With our unlimited technical consulting heritage, modern day industry practices, and Shari’a knowledge, we deliver Shari’a compliance health check and insight with the speed large enterprises and multinational companies need to make decisions.” said Mansoor Munir, Asst General Manager at Shariyah Review Bureau. “What really differentiates us is our ability to deliver Shari’a compliant expertise and solutions internationally and across multiple industries. We serve as Shari’a Advisor on some of the leading alternative Islamic investments programs from Thailand, Canada, Australia and Hong Kong. On the appointment he stated “I'm thrilled that SRB will be advising Pacific Tycoon at this exciting time in its Shari’a compliant leasing development phase. The highest Islamic business values and Shari’a standards are central to what SRB stands for and I along with my team look forward to working with them and in helping them achieve their ambitious goals in a Shari’a compliant way.”

Over the last ten years, Shariyah Review Bureau has enjoyed an impressive track record of international success by helping scores of companies and businesses experience explosive growth in the Islamic Investment sectors. Those wanting more information about SRB practices can contact Mansoor Munir Ahmed atinfo@shariyah.com.

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Source:Pacific Tycoon
Location:Manama - Manama - Bahrain
Industry:Finance
Tags:Finance, islamic, sharia, Shariyah
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