DDCAP Group is delighted to announce that DDGI Limited’s application for the opening of a representative office in Kuala Lumpur has been approved by the Malaysian Investment Development Authority (MIDA).
The DDGI Limited Representative Office in Kuala Lumpur will help strengthen and support new and existing client relationships in Malaysia and Southeast Asia as well as provide a base to explore new, complementary opportunities in the region.
Along with DDCAP (DIFC) Limited in the DIFC in Dubai, the DDGI Limited Representative Office in Kuala Lumpur expands DDCAP Group’s global footprint and further solidifies its commitment to Southeast Asia. The Kuala Lumpur DDGI Limited Representative Office is expected to launch officially in Q1 2019.
DDCAP featured as the Daily Cover Story for IFN Alerts publication on Thursday 4th October 2018 which can be found below:
DDCAP to launch Kuala Lumpur office as springboard to new Southeast Asian opportunities
“GLOBAL: UK-based commodity Murabahah trading service provider DDCAP Group has secured regulatory approval to set up shop in Malaysia, allowing the firm to tap new opportunities in Southeast Asia as part of its expansion strategy.
Receiving an approval by the Malaysian Investment Development Authority, DDGI – a wholly-owned subsidiary of DDCAP Group – expects to open a representative office in Kuala Lumpur in the first quarter of 2019, the firm confirmed. The office would be DDCAP’s third office but first in the Asian region – it is currently present in London and Dubai.
“Southeast Asia encompasses a number of vibrant and rapidly expanding markets that offer exciting opportunities to DDCAP. We are committed to supporting our established customer base and have now responded to their requests of us to be closer to them,” shared Group Managing Director Stella Cox, adding that the group has been especially enthused by the Malaysian authorities’ leadership in integrating sustainable and responsible financial practices within local legislation and regulation.
The Kuala Lumpur office puts DDCAP at the heart of one of the largest Islamic finance markets in the world, where commodity Murabahah is widely used. Serviced by a number of local players and non-Malaysian firms, DDCAP would be one of the first foreign commodity Murabahah service providers to establish a physical presence in Malaysia.
“We believe that having [a] presence in Malaysia offers us an exciting opportunity to focus on the expansion of our automated solutions amidst a globally ambitious, technically focused, fintech community,” said Lawrence Oliver, DDCAP Group’s deputy CEO.”