Al Waseelah, the first independent UK-based Islamic securitization and issuance platform and a unique initiative of Khalij Group is planning to list on Qatar Stock Exchange (QSE) and register on Qatar Financial Centre (QFC).
Al Waseelah is an award-winning leader in the origination and structuring of Sukuk. The platform was designed to serve Islamic capital markets by assisting them in the issuance of Sukuk and allowing them to access the markets in a time and cost-effective manner.
In Qatar, QFC promotes and facilitates the development of fintech startups. The Qatar Fintech Hub, a joint venture between QFC and Qatar Central Bank (QCB) with Qatar Development Bank (QDB), serves as the business developer. QDB has an accelerator incubator program and some of the fintech are also part of cohorts.
Asim Khan CEO – Khalij Group
“We established Al Waseelah in 2019 which is an Islamic issuance platform that uses English law as jurisdiction. It has the capability to issue Sukuk and we have a listing on Frankfurt Stock Exchange and Al Waseelah can issue notes in any major currency. We currently have three Sukuks and we are in conversation with QFC to bring Al Waseelah offering to QFC and list on the Qatar Stock Exchange.”
Recently, Bait Al Mashura, a financial advisory company in association with QFC, Hamad Bin Khalifa University (HBKU), Khalij Group, Wethaq and Refinitiv organized a webinar entitled ‘Islamic Fintech Practices and Prospects for the Capital Markets’. The experts discussed enabling ecosystems in fintech developments and innovations in the capital markets in Qatar.
Mr. Henk J Hoogendoorn, Chief Financial Sector Officer, QFC remarked that “Qatar has strong regulations and solid Islamic banking regulations and there is also access to investors. We will support and provide incentives to set up and also provide access to regulators, banks and investors and our stock exchange are very much interested to welcome Al Waseelah in Qatar.”
