- Before launching ETHOS AFP™, DDCAP conducted a research programme with a diverse group of Islamic financial institutions and their esteemed Shariah advisors and has subsequently enhanced the platform to encompass both Shariah and business focused operational requirements. Independent third party companies providing trade services to DDCAP clients maintain their own platforms to ensure that Shariah integrity is not compromised.
- Complementary systems based solutions are available at our clients’ request to provide optimum post trade efficiency.
- During the transaction lifecycle, the platform ensures the completion of the individual segregated procedures needed to complete each transaction sequence in accordance with documented requirements. Related confirmations and trade documents are validated to fully comply with Shariah stipulations in real time.
- Assets made available to our clients for purchase via the platform are subjected to a Shariah focused screening process overlaid with the requisite governance, compliance and sanction-based protocols upheld by DDCAP and its clients.
- DDCAP’s own Shariah Supervisory Board (SSB) has been continually engaged with the development of ETHOS AFP™ and the SSB’s Fatwa supports its multiple automated processes. As part of its ongoing audit of DDCAP’s services, our esteemed SSB regularly meets to review the platform transactions and the underlying supporting documentation completed on it.
- To provide further reassurance to our clients that ETHOS AFP™ and its associated processes and procedures are well governed and effective, transactions executed across the platform are randomly selected and subjected to review in accordance with the International Standard on Related Services 4400 (“ISRS 4400”) published by the International Auditing and Assurance Standards Board. Each review is conducted from initiation of the trade through to final accounting records. Reference is made to all supporting documentation in doing so, including overarching client agreements and transactional arrangements with third parties.
- The ISRS 4400 review is conducted by a major global financial services sector advisory firm in addition to the Shariah compliance focused review procedures of our own esteemed SSB. In combination, these support the emphasis that DDCAP and its clients place on independent validation of the trade substance and processes.
Sustainable and Responsible Actions
- DDCAP Group (DDCAP) is committed to developing a more sustainable, equitable and prosperous world and supports the view that those in business must adopt strategies to deliver not only financial results but also social and environmental outcomes as well. The development of DDCAP’s Sustainable and Responsible Actions (SRA) policy has been shaped by recent multi-national initiatives to promote responsibility and sustainability and the increased awareness of environmental social and corporate governance (ESG) concerns. Further to this view, DDCAP Limited (a DDCAP Group company) is a PRI signatory as well as an observer member of the RFI Foundation. Additionally, DDCAP’s SRA policy has also been formed in light of the UN Sustainable Development Goals.
- DDCAP aspires to connect to the global Islamic financial market responsibly and supports awareness of the business and ethical case for responsible finance. DDCAP recognizes that organizations and firms across our industry are working to translate their own vision into responsible, sustainable policies and procedures that produce positive social and environmental outcomes as well as delivering financial results. We are actively engaging with other stakeholders to encourage these initiatives.
- DDCAP’s own commitment to Sustainable and Responsible Actions (SRA) is being reinforced on an ongoing basis across our corporate environment and infrastructure, our business offerings and services and our engagement with third parties.
- The development of ETHOS AFP™ and its functionality is integrated within our corporate policy formation.