Saxo Bank Enables Online Islamic TradingBy Saxo Bank, PRNE
Sunday, November 20, 2011
SAN FRANCISCO, DUBAI, UAE and HELLERUP, Denmark, November 21, 2011 -
IdealRatings identifies Islamic compliant Equities and ETFs on 25 exchanges.
Saxo Bank A/S, the online trading and investment specialist, has today enabled its clients to identify and trade Islamic compliant stocks and ETFs on more than 25 exchanges worldwide. The Bank selected IdealRatings Inc., a leading global Islamic compliant fund management service provider, as the most reliable source for identifying Islamic compliant instruments globally.
The compliance reasoning is based on commonly accepted and transparent Islamic guidelines defined by IdealRatings and Shariah Review Bureau with operations in Jeddah, Bahrain and Saudi Arabia and Manama. More than 12,000 stocks and Exchange Traded Funds (ETFs) are screened and researched on a monthly basis by IdealRatings.
Jakob Beck Thomsen, Regional head of Middle East and CEO Saxo Bank (Dubai) Ltd., said:
“Islamic finance is one of the fastest growing sectors in the world today and we are excited to enable our clients to identify and trade Islamic compliant stocks online. IdealRatings is the industry’s most trusted brand for identifying and researching Islamic compliant stocks and we are confident in offering their data to our clients.”
Mohamed Donia, CEO of IdealRatings, added:
“Saxo Bank A/S has always been an innovator and market leader in providing its clients with quality financial services and we are delighted to partner with them to provide this reliable information for their discerning investors.”
About Saxo Bank
Saxo Bank is a leading online trading and investment specialist. A fully licensed and regulated European bank, Saxo Bank enables private investors and institutional clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader application are available in over 20 languages. Saxo Bank also offers professional portfolio and fund management. Saxo Asset Management accommodates high-net worth private clients and institutional investors and Saxo Privatbank provides banking services and advice to retail clients. The Saxo Bank Group is headquartered in Copenhagen with offices throughout Europe, Asia, Middle East, Latin America and Australia.
For more information, please visit www.saxobank.com
IdealRatings is a service for financial institutions to drive Alpha generation by identifying Islamic compliant instruments globally and managing the overall Islamic fund management process. IdealRatings is geared for portfolio managers and analysts who need an enterprise-wide view to better manage and operate their Islamic compliant funds. IdealRatings, Inc. is headquartered in San Francisco, California.
For more information, please visit; www.IdealRatings.com
Media enquiries: Kasper Elbjorn, Head of Group Public Relations, Saxo Bank, +45-3065-4300, press at saxobank.com. Mr. Magdy Eissa, IdealRatings Inc, meissa at idealratings.com
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