The Bahrain Financial Exchange (BFX) has employed the consultancy services of the Shape Financial Corp - a leading specialist in the formation of solutions for Islamic finance markets - to assist the BFX in the development of Shariah- compliant Islamic finance products for listing on the exchange. Listing and trading in innovative Islamic products will be a key aspect of the BFX. Working with Shape will enable the exchange to establish its product line in this area and benefit from the strong relationships Shape has in the Islamic finance industry. The initial work will be conducted across Islamic capital markets, Sukuks, REITs, ETFs and Murabaha sectors. Arshad Khan, director, BFX said “we are delighted to have the services of a leading Islamic finance consultancy working with the BFX. It is our aim to bring innovations in Islamic finance products that can be listed and successfully traded on our Exchange. The Shariah-compliant Islamic finance industry is a market worth approximately $700-800 billion and by listing the right products on the BFX we are confident about tapping into this growth market with significant potential.' Abdulkader Thomas, president and CEO of Shape, said “this is a fantastic opportunity to help develop much needed solutions for the Islamic finance markets to facilitate their development and growth. The BFX's aim to become a pioneer in this sector combined with Shape's expertise will add great value and impetuous to these important markets.” BFX is the first multi asset, multi access international exchange in Bahrain and the Middle East. Launching in first quarter of 2010, the exchange will provide a platform where market participants can raise capital and manage risk using conventional and Islamic financial instruments on one liquid market.
