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Global Islamic Financial Services Firm Financial Services for the Future

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Global Islamic Financial Services Firm | 1

Contents 2

Global Perspectives Financial Services for the Future

3

Expertise

4

Shariah Product Development

5

Global Reach

6

Fatwa and Certification

7

Sharia Review

8

Sharia Audit and Assurance

9

Shariah Mediation and Arbitration

10 11

Islamic Finance Knowledge and Research

12

Shariah Board Development

13

Shariah Compliant Legal Advisory

14

Islamic Finance Training and Human Capital Development

15

Central Bank Regulatory Assistance

16

Sukuk and Islamic Fund Structuring

17

Select Products Developed by GIFS

18

Achievements

19

Select Clients

Islamic Private Wealth Management


Global Islamic Financial Services Firm | 2

Global Perspectives Financial Services for the Future Global Islamic Financial Services Firm is a leading global audit, advisory, tax, accounting and corporate finance firm with a strong Islamic finance practice. We offer innovative, market-leading services and products to corporates, financial institutions, export credit agencies, investment banks and governments on Shari’a compliant banking facilities, sukuk, structured products, private equity and project financing. A key strength of our Firm is the ability to offer teams which combine technical expertise in conventional finance transactions with an in-depth understanding of the principles of Islamic finance. GIFS is recognized as a leader in Shari’a compliant financing transactions. Issuers and arrangers alike call on the expertise and experience of our global team. The team adds value to transactions with our ability to combine our solid knowledge of Shari’a-compliant financing with our expertise in conventional financing. We help clients measure the risks associated with Islamic finance structures.

Deal Advisory of 800 Million USD Shariah Advisory Team of the Year Largest Shariah Advisory Team in Africa

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 3

Global Islamic Financial Services Firm propriety limited (gifs) is a South African based company specialized in providing Sharīàh Advisory services, supervision, Sharīàh auditing and human capital development. GIFS provides a superb quality of Sharīàh advisory and training to Financial Institutions who wish to cater for Islamic Finance Products to their clientele. We offer a diverse range of customized and tailored Shariah Consultancy Services which are seamlessly integrated into practical solutions that suits our clients complex and diverse business needs. Our advisory board comprises of experienced scholars and financial experts who bring their expertise and insight to meet our client’s needs. Our Islamic finance network benefits from being able to draw on the broad experience of bankers, lawyers, tax and corporate advisors across our global network who have advised on a range of Islamic finance transactions in jurisdictions throughout Africa, Europe, the Middle East and Asia.

OVERVIEW OF OUR EXPERTISE:

SERVICES

From risk identification to risk mitigation, we work with you to develop solutions that will minimise compliance risks while optimising business performance. We have a set of standard procedures that we enact to co-operate with our client on a step by step basis to develop the required compliance programs and processes, policies, guidelines and structures. Our work adheres to the highest standards of ethics, compliance and confidentiality.

Shariah Product Development Fatāwā and Certification. Sharīàh Review Sharīàh Audit and Assurance Shariah Mediation and Arbitration Islamic Private Wealth Management Shariah Board Development Islamic Finance Training and Human Capital Development Central Bank Regulatory Assistance Sukuk and Islamic Fund Structuring Islamic Finance Knowledge and Research

Our areas of expertise include but are not limited to: Islamic Banking Islamic asset management Sukuk Takaful Islamic Private Wealth Management Training and Human Capital Development Islamic Finance Knowledge and Research


Global Islamic Financial Services Firm | 4

Shariah Product Development We are able to serve you in all major, and growth, markets around the world The Islamic Finance industry is in the nascent stages of development. Therefore it is imperative for market participants to undertake a high degree of product innovation, to maintain a market leading, competitive positioning. Global Islamic Financial Services Firm provides a one-stop solution for product development requirements, from design through to implementation. We combine deep knowledge of Islamic financing techniques with a comprehensive understanding of tax and regulatory requirements to assist in the development of market leading products in line with Sharia’a requirements. We are ideally positioned to develop products from Shariah principles with reference to primary Sharia’a sources; an important feature as the industry seeks to move to more innovative shariah based products. We have created many of the World’s most innovative and shariah based products.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 5

Global Reach

Global Reach

South Africa

Saudi Arabia

United States of America

Reunion-Island

United Kingdom

Australia

Zambia

Malta

Malawi

Canada

India

Turkey

UAE

Botswana

Russia

Nigeria

Bahrain

China

Kazakhstan


Global Islamic Financial Services Firm | 6

Fatwa and Certification

Sharia’a Scholars play a pivotal role in the Islamic Finance sector, as it is only following their explicit approval that a product or transaction is deemed to be Sharia’a compliant. There is a recognized shortage of suitably qualified Sharia’a Scholars in the industry, serving an increasing number of Islamic Finance institutions. Consequently, access to Sharia’a input when required can be challenging. A Fatwa or Islamic Legal Edict is the highest form of religious authority in Islam. Our dedicated team of reputed scholars have specialist knowledge and experience in issuing Fatawa or Islamic Legal Edicts of the highest quality and we are affiliated to the world renowned Darul Iftaa based in Durban. Our specialized team is able to asses, advice and validate financial products and concepts for Shariah Compliancy with a formal Fatwa (Islamic Legal Edict).

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 7

Shariah Review

Our team has worked with some of the largest financial institutions and investment firms in conducting high level Shariah reviews of their Shariah product offering. Combined with specialist knowledge of Islamic Finance and professional financial expertise, we are able to review, evaluate and access structures, directives and concepts to ensure proper Shariah compliance in line with the highest regulatory and standard setting authorities on Islamic Finance.


Global Islamic Financial Services Firm | 8

Shariah Audit and Assurance Shari’a audit engages in reviewing all transactions, products, & financial statements on a regular basis to ensure optimal shariah compliance. Our Shari’a Compliance Audit is a trust engendering tool. Our experienced team of Shari’a Auditors align internal Shari’a function’s with business strategic objectives, taking into account overall risk management, compliance monitoring, and business performance. Our approach identifies implementation problems to administer the necessary rectifications & augment performance.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 9

Shariah Mediation and Arbitration Our specialist team of Scholars works with our dedicated legal and business advisory practices in proving shariah solutions for large commercial and financial mediations and arbitrations. Our decisions and rulings have been official recognized and endorsed by Governmental institutions.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 10

Islamic Finance Knowledge and Research Critical data and research is one of the most fundamental and urgent requirements of the Islamic Finance Industry. We have developed an action plan in meeting some of those requirements in spreading awareness and enabling scholars and key players in the market to keep updated with the latest trends and practices in the Industry. The strategy includes daily reports covering the latest trends in the Industry, the development of a shariah and legal research monitor covering key aspects of the Islamic Finance Industry and conducting a research colloquium for key industry players and scholars to contribute to the strategic development of the Industry. In addition, our team contributes to the development of the industry by engaging with various standard setting institutes and policy makers to enhance and promote the development of the Industry.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 11

Islamic Private Wealth Management

Islamic Wealth Management extends to the structures of Islamic Financial products, portfolio management, asset allocation and overall financial planning. We cover all aspects of Islamic Wealth Management including the proper acquisition of wealth, preservation of wealth and proper disposal of wealth according to shariah principles. Our team is able to meet our client needs in developing unique shariah trust deeds, estate planning, portfolio screening, zakat distribution and specialized private investment funds. High level analysis of financial structures are carried out in meeting our client’s needs.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 12

Shariah Board Development

Shariah Governance is key to the development of a robust and regulated Islamic Finance Industry. Our team has developed some of the World’s most innovative and renowned standards on shariah governance in ensuring complete shariah compliance. The choice of the Shariah Supervisory Board is a crucial step in the launch of an Islamic financial operation, whether full-fledged or a window. Our team of highly reputed and specialist scholars participate on some of the most prestigious Islamic Financial Institutions including Central Banks, Governments, Large Corporations and Banks. We are ideally placed to assist our clients in developing a dynamic and reputable shariah board.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 13

Shariah Compliant Legal Advisory

We provide a wide range of legal services to a number of clients, both local and international. We serve medium to large local and international clients, parastatal and government organisations in many aspects of corporate and commercial law. We focus on the generation of forward-thinking ideas, the development of concept proposals, and the identification of legal issues, drafting, reviewing, critically assessing and negotiating documentation and implementation of transactions according to Shariah Law.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 14

Islamic Finance Training and Human Capital Development

We have developed world class educational and training programmes for the Islamic Finance Industry. Our team of scholars have trained thousands of bankers, financial analysts, economists, accountants, lawyers and scholars from around the World. We are able to design specialized and customized in-door training solutions to enhance the knowledge and quality of our client’s employees. Our training solutions cover a vast array of technical and practical topics including Shariah Governance and Assurance, Islamic Liquidity Management, Islamic Insurance, Islamic Financing and Banking, Sukuk, Islamic Risk Management and Islamic Finance Accounting.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 15

Central Bank Regulatory Assistance Our specialist scholars currently advise various Central Banks in developing prudential regulations for the Islamic Finance Industry. Our corporate financial and tax advisory teams have played key and influential roles in developing regulations and standards for the Islamic Finance Industry all over the Globe. Our global network of corporate legal, tax, financial and shariah advisors are well placed to assist our clients in developing substantial and prudential regulations for the Islamic Finance Industry.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 16

Sukuk and Islamic Fund Structuring

Shariah Governance is key to the development of a robust and regulated Islamic Finance Industry. Our team has developed some of the World’s most innovative and renowned standards on shariah governance in ensuring complete shariah compliance. The choice of the Shariah Supervisory Board is a crucial step in the launch of an Islamic financial operation, whether full-fledged or a window. Our team of highly reputed and specialist scholars participate on some of the most prestigious Islamic Financial Institutions including Central Banks, Governments, Large Corporations and Banks. We are ideally placed to assist our clients in developing a dynamic and reputable shariah board.

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 17

Select Products Developed by GIFS: Product Category

Application

Structure Category

1

Current Account

Profit free loan by clients to the bank

Qardh

Retail/Corporate/SME

2

Savings Accounts

Prize/reward based with profit share to clients

Mudarabah

Retail/Corporate

3

Investment Deposit Accounts

Profit share calculated by bank at the end of maturity

Mudarabah

Retail

4

Car Finance

Individuals: Murabaha Corporate Fleet: Ijarah

Ijarah/ Murabaha

Retail/Corporate

5

Consumer Durables Financing

Financing of white goods, furniture, home appliances

Murabaha

Retail/corporate

6

Property Finance

Fixed Price for off-plan properties

Murabaha

Retail

7

Property Finance

Import/export financing

Istisna

Retail

8

Trade Finance

Import/export financing

Murabaha

Retail/Corporate

9

Shares Financing

Leveraged financing of shares and securities Murabaha

Corporate

Home Finance

Financing based on partnership and deferred payment

Murabaha/ Dimiishing Musharakah

Retail/Corporate

Forward Exchange based on Wa’d/unilateral promise

Wa’d/Bay

Retail/Corporate

End to end structuring and product

Mudabaha/ Wakalah

Retail/Corporate

Ijarah

Government

10

11 FEC 12

Funds

development

13

Sukuks

For a government to procure infrastructure funding

14

Indices

Screening entire stock exchanges for shariah compliance

Stock Exchange

15 Corporate Finance

Term Facilities

16 Swaps

Developed rand/USD shariah swap

17 Treasuring Funding

Interbank liquidity requirements

18 Takafol

Hybrid takafol structure for major insurance house

Retail/Corporate

Project Finance structure for major conglomerate

Corporate

19

Project Finance

Commodity Murabaha

Corporate Corporate

Musharakah

Corporate


Global Islamic Financial Services Firm | 18

Achievements Since establishment, GIFS has provided the Islamic banking and finance industry with several landmark and innovative structures and products in compliance with glorious Sharia principles. These products and structures cover full suites of retail banking, corporate banking, treasury, capital markets, asset management and Takaful products, and have since become industry norm. Additionally, Dar Al Sharia also holds the honor of delivering the following path-breaking transactions and products to the Islamic

WORLD’S FIRST Murabaha stock Leveraging Product – UAE

Shariah Factoring Product based on Salam – RSA

Hybrid Takafol Product

Baitul Mal

Shariah Compliant Hotel

Shariah Compliant Project Financing Structure

Shariah Compliant Asset and Investment Management Structure

Road Toll Financing Structure

Islamic Stock Exchange

Islamic Investment Trust

Islamic Investment Trust

Multi-Class Securitization Sukuk

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: ceo@islamicfinancialservices.co.za

Emaar Square, Downtown Address: 21 Aurora Drive, Umhlanga Ridge, Durban, KZN, South Africa

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates


Global Islamic Financial Services Firm | 19

Select Clients


Key Contacts Mufti Ismail Ebrahim Desai

Mufti Uzair Usmani

Imran kharwa

Ahmed Jaffar

Mufti Muaaz Ashraf Usmani

Saleem Khan

Patrick Mahdi

Mufti Abdul Rahman Shareef

Yusuf Jha

Ashraf Ammar

Irshad Motala

CEO and Chairman, Durban /Dubai admin@gifsrv.com

Vice-Chairman admin@gifsrv.com

Investment Partner, Dubai United Kingdom/Dubai admin@gifsrv.com

CEO and Chairman, Durban /Dubai Corporate Tax Partner, Luxemburg, Dubai, Johannesburg admin@gifsrv.com

Shariah Scholar, Pakistan admin@gifsrv.com

Shariah Scholar, Pakistan Shariah Scholar, Pakistan admin@gifsrv.com

Shariah Consultant, Botswana admin@gifsrv.com

Legal Partner, Durban

Legal Partner, Durban

Shariah Trainer and Investment

Legal Partner, Johannesburg/USA admin@gifsrv.com

Aqram Joosub

Accounting and Audit Partner, Durban admin@gifsrv.com

Global Islamic Financial Services Firm is an outstanding global Firm with vast capabilities in tax, audit, accounting, advisory and corporate banking and investment services. Mufti Ismail Desai has inspired our group with his advice and highly skilled team.� Wiaan Smit, CEO, Al-Mabroor Investments (PTY) LTD, South

Durban, South Africa

United Arab Emirates, Dubai:

Email: admin@gifsrv.com

Email: admin@gifsrv.com

Emaar Square, Downtown Address: 21 Aurora Drive,

Address: Standard Chartered Tower, Level 5, Burj Khalifa, Dubai, United Arab Emirates

Umhlanga Ridge, Durban, KZN, South Africa

Global Islamic Financial Services Firm is a public company registered in South Africa and registered partnership in Dubai, UAE , regulated by the UAE Government for investment banking services. The term partner in relation to Global Islamic Financial Services Firm is used to refer to a member of the company or an employee or consultant of the company or any of its affiliated firms or entities with equivalent standing and qualifications. A list of the names of the members of Global Islamic Financial Services Firm and of the non-members who are designated as partners and their professional qualifications is open to inspection at its registered offices.

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