DDCAP Group™ (DDCAP) is very pleased to announce the authorisation of its new office in Bahrain.
DDGI Limited (Bahrain) will be DDCAP’s 4th business hub, expanding the Group’s existing footprint in Dubai, Kuala Lumpur and London. A ground presence in Bahrain will enable DDCAP to explore new market opportunities locally and serve to further strengthen and support its valued client base throughout the GCC.
Stella Cox CBE, DDCAP Group Managing Director, said “DDCAP is privileged that the Bahraini authorities have approved our opening. Since our inception almost 25 years ago, we have been honoured to include Bahrain and the numerous members of its significant, financial sector community within our business and services offerings. Bahrain and its financial authorities have a well-deserved, long-standing reputation for pioneering thought leadership and empowerment of Sharia’a compliant financial services. This is substantiated by an evolved Islamic financial architecture and the proactive approach to the development and offering of Islamic financial services by the Bahraini financial institutions and their regulators. Bahrain also hosts a number of key Islamic market infrastructure organisations, including CIBAFI and also AAOIFI and the IIFM, of which DDCAP is proud to have membership and enjoy a collaborative relationship in working to further global industry standards and initiatives. We greatly look forward to our new presence enabling our closer engagement with our clients, counterparties and partners. It will be our privilege, as a locally represented business, to play our small part in supporting Bahrain’s vision for its future growth and the development of its economy”.
DDCAP is also pleased to confirm that Rod Hawkes has joined the Group as its Chief Representative in Bahrain, where his focus will be on the further positioning of DDCAP and ETHOS AFP™ Treasury services and fintech solutions with clients and partners across the GCC. Rod has worked worldwide as a senior broker in the financial markets for over 40 years and has amassed vast experience of FX, Derivatives, Money Market and Islamic products during that time. Rod began his career in London and progressed to hold senior positions with TP ICAP and BGC Groups in New York, Sydney and Toronto. He has spent the last 20 years in the Middle East working in Kuwait, Dubai and Bahrain. Throughout his career, Rod has built strong relationships with many banks and financial institutions worldwide and he looks forward to continuing to work with his numerous valued contacts in the GCC.
Lawrence Oliver, Group Deputy CEO said “we are delighted to have Rod join us at DDCAP. We welcome his exceptional experience across diverse financial markets and geographies and look forward to the contribution that he will make to developing our business locally and regionally.”
For further information contact:
Director, Deputy Chief Executive Officer
Office +44 207 863 1252
Office: +44 207 863 1227
About DDCAP Group™
Headquartered in London, DDCAP Group™ is a market intermediary and financial technology solutions provider connecting the global Islamic financial market responsibly for over 20 years. Working with conventional and Islamic banks and financial institutions, DDCAP offers award-winning asset facilitation services and technology and systems solutions to Islamic financial sector clients across a diverse range of responsible and sustainable Sharia’a-compliant products, asset classes and instruments in both the primary and secondary markets. Outside of its London headquarters, DDCAP’s international footprint includes representative offices in Bahrain, the Dubai International Financial Centre, Dubai and Kuala Lumpur. DDCAP has a Sharia’a Supervisory Board that includes five, world renowned scholars.
DDCAP aspires to connect to the global Islamic financial market responsibly and works to promote awareness of the business and ethical case for responsible finance. DDCAP is a signatory to United Nations’ endorsed Principles for Responsible Investment (PRI) and stakeholder endorser of the UN Environmental Programme Finance Initiative’s (UNEP FI) Principles for Responsible Banking. DDCAP is a member of the Global Islamic Finance and SDGs Taskforce, steered by the UK Islamic Finance Council and also a member of the RFI Foundation. DDCAP’s own commitment to Sustainable and Responsible Actions (“SRA”) is being reinforced within policy that extends across its corporate environment and infrastructure, business offerings and services and engagement with its stakeholders and other third parties.
About ETHOS AFP™ and ETHOSTerminal™
ETHOS AFP™ is a market leading, multiple award-winning real-time trade and post trade services platform which provides continuous coverage and enables DDCAP clients worldwide to purchase from a responsible, diverse asset inventory via a secure, web-based portal for onward sale to their own clients and counterparties. The open market platform with full STP functionality delivers an array of benefits and efficiencies whilst mitigating trade and operational risks.
ETHOSTerminal™ was launched in 2021 and brings additional integration functionality to DDCAP clients via an open market environment that enables users full discretion in choosing trade counterparts. This upgraded functionality has been developed in response to user demand and Sharia’a preferences. In combination, these have caused Islamic financial market banks and institutions to seek transactional flexibility that enables them to select, and alternate, the market counterparties that they contract with for their individual trade requirements.
In addition to gaining access to the Sharia’a compliant automated trade and post trade services platform, ETHOS AFP™ and to the extended functionality of ETHOSTerminal™, DDCAP clients and counterparties also have access to the fully integrated service solutions of DDCAP’s diverse and market leading technology partners which include Refinitiv, Murex and Instimatch.
Development of ETHOS AFP™ and its functionality is integrated within DDCAP Group’s corporate policy formation, including its SRA programme and the review processes and procedures of its esteemed Sharia’a Supervisory Board.