Sidra Capital (Sidra), a regulated Shariah-compliant investment bank based in Saudi Arabia, and INOKS Capital SA (INOKS), an alternative investment house specialized in commodities investment and regulated by the Swiss Financial Market Supervisory Authority (FINMA), were recently awarded with the Best Trade Finance Deal 2012 by the Islamic Finance News (IFN), a leading Islamic Finance magazine, for its investment in Ghana via its jointly managed Sidra – Ancile Global Structured Trade Investment Fund (Fund).
The deal was selected as the best Trade Finance deal ahead of other transactions such as the Ministry of Power, Energy & Mineral Resources (Bangladesh), Boustead Naval Shipyard (Malaysia) and Societe Anonyme Morocaine De I’industrie Du Raffinage (Morocco).
The transaction is a $5,000,000 syndicated Istisna trade finance for WIENCO (Ghana) Ltd, the market leader for crop protection products, seeds and fertilizers distribution in Ghana. The transaction covers a significant portion of the value chain from procurement to transformation and exportation of cotton lint globally. Sidra also acted as the Shariah adviser to the transaction.
Read more: http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20130321157770
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