Sarasin Group creates a new benchmark in Islamic wealth management

13.11.2009

The Sarasin Group, a leading Swiss private bank with a broad international footprint, today announced the launch of a comprehensive new Islamic wealth management offering that comprises the full spectrum of Sharia-compliant private banking products and services. Sarasin’s Islamic wealth management offering creates a new benchmark by incorporating estate and succession planning, financing and asset management with such money market and structured products as Wakala, Murabaha and Maraya. With this launch, Sarasin provides an even broader customised offering to its clients globally and further strengthens its position in the Middle East. The Sarasin Group is represented in the Middle East by its Sarasin-Alpen subsidiaries, which are located in Dubai, Qatar and Oman.

At a press conference in the Museum of Islamic Art in Doha, Qatar, the Sarasin Group today unveiled its comprehensive new Islamic wealth management offering. The event was attended by His Excellency Sheikh Mohammed Bin Jassim Al Thani, former Minister of Commerce and Economy of Qatar, and Abdullah Al Najjar, CEO of the Museum of Islamic Art in Doha, Qatar, as well as members of Sarasin’s senior management and an independent Sharia Advisory board. The Sharia Advisory Board, comprising the eminent scholars Sheikh Dr Mohamed Ali Elgari, Dr Muhammad Imran Ashraf Usmani and Dr Monzer Kahf, will ensure that this high-quality offering is fully compliant with Sharia principles. As required, Sarasin’s Islamic wealth management service is based on an intense investment screening process, including elaborate Sharia monitoring and control procedures.

Fidelis M. Goetz, Member of the Executive Committee and Head of Private Banking, Bank Sarasin & Co. Ltd, Switzerland
“The launch of our Islamic wealth management offering reflects our commitment to serving the diverse needs of our clients based on a responsible, long-term approach, as well as our unique capabilities given our considerable expertise in the Middle East and our proven track record as a specialized asset manager.”

Rohit Walia, Executive Vice Chairman & CEO, Sarasin-Alpen Group, Middle East and South Asia
“We are extremely delighted that the global launch of our Islamic products is taking place in the Middle East. Islamic Finance is a fast growing concept in the region. Many of our clients have expressed interest in Islamic Wealth Management and we are very happy to offer the suite of Islamic products to meet their requirements. I am sure this will also add to our already strengthened position in the region.”

Fares Mourad, Managing Director, Head of Islamic Finance, Bank Sarasin & Co. Ltd, Switzerland
“Our relentless focus on client needs was the inspiration behind the development of this offering. Many of our clients have expressed an interest in this type of investment approach and we are proud to offer them a complete range of products and services that combine the highest standards of Swiss private banking with Sharia principles.”

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