BFX - Bahrain Financial Exchange

Bait Al Bursa, an Islamic division of the Bahrain Financial Exchange (BFX), is the first dedicated platform in the region offering exchange traded solutions to the Islamic finance market. Bait Al Bursa signifies the ‘Home of Exchanges’ and symbolises the BFX’s vision of providing a single venue for all exchange traded business in the Islamic finance sector. Bait Al Bursa aims to create a new standard in Islamic finance with the introduction of innovative Shariah-compliant exchange traded financial products. Located in the Kingdom of Bahrain, Bait Al Bursa is strategically positioned to service the MENA region, the West and the Far East.

For further information on Bait Al Bursa and its products please contact Tahir Mahmood on +973 16 511 511 or info@baitalbursa.com

e-Tayseer, the first of Bait Al Bursa's products, is a fully automated platform for transactions in the supply, purchase and sale of assets for facilitating Murabaha transactions. e-Tayseer allows suppliers to place their assets onto the platform ready to be purchased by financial institutions. Financial institutions can then purchase these assets and conduct Murabaha transactions with counterparties to fulfil their liquidity management requirements in a secure online environment. e-Tayseer offers various Shariah-compliant assets located in the MENA region as well as globally, where all processes are automated end to end.

e-Tayseer offers a sophisticated Shariah-compliant liquidity management solution through a bespoke automated exchange platform. The first of its kind in the MENA region, its key benefits include:

Automation
e-Tayseer is a fully automated Shariah-compliant solution designed to manage the buying and selling process of assets, from inception to completion.

Multi-Currency and Multi-Asset
e-Tayseer offers multiple Shariah-compliant assets such as cars, car parts, industrial equipment, soft commodities and metals to name a few which are securely stored and ownership can be easily transferred.

Straight Through Processing
The entire trade process is conducted electronically without the need for re-keying of data or manual intervention.

Time
Through e-Tayseer, the average duration of a liquidity management transaction is reduced significantly in comparison to the current market practice.

Convenience
All bids are placed electronically, and confirmations are created and sent electronically. Therefore reducing the time and resources spent on emails, phone calls and faxes between the different transacting parties.

Secure
Financial institutions can be rest assured that all transactions on e-Tayseer are protected via state of the art encryption and password processes while allowing access to e-Tayseer from any computer with an internet connection.

Transparent
Both financial institutions are involved in the overall process with the Purchaser and the Supplier. All transactions and respective audit trails are stored electronically for any future usage.

For further information on e-Tayseer please contact Tahir Mahmood on +973 16 511 511 or info@baitalbursa.com

Ratings Intelligence Partners (RI)

Ratings Intelligence is a Shariah Advisory firm based in London and Kuwait. It provides the BFX with a wide range of advisory solutions to create Shariah-compliant products and expand investment offerings on various Islamic financial instruments adhering to Islamic Principles. The Shariah Supervisory Board of RI, which has approved e-Tayseer as being Shariah-compliant, comprises of eminent and experienced Shariah scholars serving to interpret business issues and recommend actions. The members are:

Dr. Muhammad Ali El-Gari of Saudi Arabia, Chairman

• Ph.D in Economics from the University of California, USA.
• Associate Professor of Islamic Economics, department of Economics, King Abdulaziz University, Jeddah, Saudi Arabia
• Deputy Director, Centre for Research in Islamic Economics, King Abdulaziz University.
• Member, Academic Committee, Islamic Development Bank, Jeddah.
• Member of Islamic Fiqh Academy, Jeddah.
• Editor, Review of Islamic Economics, London (Journal of the International Association of Islamic Economics).
• Also on the Shariah board for National Commercial Bank, Saudi Arabia, Citi Islamic Investment Bank, Saudi Arabia, Saudi American Bank (United Kingdom), Saudi British Bank, United Kingdom, and Dow Jones Islamic Index, United States, to name a few.

Dr. Abdul Sattar Abu Ghuddah of Syria

• Holds Licenses in Islamic Law, from Damascus University.
• Ph.D in Islamic Law from Al Azhar University.
• MSc in Islamic Law and Hadith.
• Shariah advisor of several Islamic Financial, banking and governmental institutions.
• Advisor for Islamic Law Encyclopaedia (Kuwait Awqaf Ministry).
• He is also on the following Shariah boards: Senior Member of Al-Baraka Islamic Investment Bank, Bahrain, Dow Jones Islamic Index, USA, Al-Tawfeek Co, Saudi Arabia, Saudi American Bank, United Kingdom, to name a few.

Dr. Nazih Hammad of Canada

• Ph.D in Islamic Law from University of Cairo, Egypt.
• Former Professor at the college of Shariah, Um Alqura University, Makkah Al Mukkarmah for 17 years.
• Member of the Islamic Fiqh Academy, Jeddah, Saudi Arabia (Organisation of Islamic Countries).
• Also on the following Shariah boards: Citi Islamic Investment Bank, Bahrain, Permal Asset Management, USA, to name a few.

Dr. Mohammad Amin Ali Qattan of Syria

• An expert in Shariah matters.
• Ph.D in Islamic Banking, “Shariah control committees in Islamic Banks”, University of Birmingham, UK.
• Shariah controller for Al-Mal Islamic Investment company (99-2000).
• Researcher in Islamic Economics in the Amiri Diwan (96-97)
• Planning Specialist in Dar-Al-Istithmar Company(97)
• He has written and presented many articles, papers, and seminars, nationally and internationally in Islamic Economics, Banking and Finance. Sharing, attending and preparing conferences, meetings, seminars, forums and training in Islamic Economics, Banking and Finance.