The UAE’s National Bonds and Malaysia’s Freya Capital have signed a Memorandum of Understanding (MoU), which will take Al Manassah’s state-of-the-art Sharia-compliant solutions to new frontiers.
The MoU will foster the growth of the Islamic digital economy in Malaysia and South East Asia, opening doors to collaboration with regulators, financial institutions, and corporations. The technology-based solution adheres to the Islamic finance guidelines and supports liquidity management through its efficient portal to potential partner government institutions and financial institutions in the region.
“We are delighted to announce our relationship with Freya Capital in Malaysia and look forward to working with them on their transformational journey using the pioneering Al Manassah platform,” said Rehab Lootah, Deputy Group CEO of National Bonds. “This strategic partnership will support our ambition of bridging the gap in international markets for a reliable 24/7 Islamic fintech platform to address the ever-changing dynamics of the finance world.”
This strategic partnership will support our ambition of bridging the gap in international markets for a reliable 24/7 Islamic fintech platform to address the ever-changing dynamics of the finance world.
Amelia Tan, Founder and CEO of Freya Capital, added, “The National Bonds-Freya partnership is a powerful combination, bringing together deep skills in business and technology strategy. We are confident this will help accelerate the growth of Islamic digital economy not just in Malaysia but also in South East Asia to enhance and improve access to finance and the efficiency of markets.”
The coming together of the two parties resulted in a comprehensive approach to a more efficient future that paved the way for joint ventures and expanded global presence.
In addition to Rehab Lootah, Mohammed Qasim Al Ali, Group CEO; Hani Hussein, Group COO; and Saqib Mahmood, Group CCO represented National Bonds at the signing of the MoU. Tan was accompanied by Encik Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation (MDEC), and Gopi Ganesalingam, Chief Digital Industry Officer of MDEC.