Insight & Analysis

Press release: Tullett Prebon Fusion Islamic Finance certified Shariah-compliant

Published: Jun 2021

23rd June 2021 – Tullett Prebon, part of TP ICAP Group, a leading provider of market infrastructure, today announces that its Islamic finance platform and associated documentation has been certified Shariah-co mpliant.

Newspaper press release

Tullett Prebon Fusion Islamic Finance, which was launched in February 2021, enables clients to purchase assets for commodity Murabaha.

The platform uses market-leading connectivity for integration, straight-through processing, and single-screen access that offers simpler and quicker access to a large variety of commodities. Customers can also connect from third-party data platforms, such as Reuters or Bloomberg.

In order for the platform to be recognised as Sharia Compliant, Tullett Prebon sought the services of Yasaar Ltd, a UK based Shariah advisory company. Yasaar Ltd have reviewed and approved the Fusion Islamic Finance – Tullett Prebon Commodity Murabaha Platform, its processes and documentation for commodity Murabaha.

Paul Dunkley, Senior Managing Director, Tullett Prebon Credit and Equities, said: “We are delighted that Tullett Prebon Fusion Islamic Finance has been recognised as a Shariah compliant platform. We are committed to adhering to the principles and ethics that govern Sharia-compliant transactions.”

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