Instimatch Global and Eiger Trading Advisors Announce Partnership for Sharia'a-Compliant Trade Automation

Instimatch Global, an international digital network for institutional money market lending, has entered into a partnership agreement with Eiger Trading Advisors Limited, a financial technology company specialising in commodity Murabaha trade facilitation and execution services. The collaboration aims to provide financial institutions with a fully integrated trading workflow for Sharia'a-compliant transactions.

Daniel Sandmeier, CEO at Instimatch Global, stated that "…Instimatch offers more visibility, transparency, and efficiency, enabling users to function more efficiently and effectively. The Network also empowers users to better manage risk, by enabling them to diversify their lending portfolios and sources of cash."

The partnership combines Instimatch Global's digital network with Eiger's trading platform and technology, providing access to Sharia'a-compliant assets and trade structuring services for seamless trade execution and post-trade automation.

Abdullah Al-Ghanim, Head of MENA at Instimatch Global, commented, "…we are pleased with this new strategic partnership with Eiger which enables us to leverage their platform and enhance our offering to deliver a single integrated solution for our customers. Besides the integration with the Eiger Platform, we are also very proud to announce the successful completion of the first-ever digital end-to-end Murabaha transaction involving Warba Bank and Burgan Bank in Kuwait".

The Eiger Trading Platform is a market-leading financial technology that provides the Islamic financial market with real-time trading of Shariah-compliant physical commodities, via a secure digital platform and APIs which enable open-banking and digital transformation.

Eiger CEO Stephen Openshaw said, "We are delighted to support Instimatch Global with the launch of their new inter-bank money market deal-matching platform for Sharia'a compliant transactions. We believe in encouraging the technological innovation and evolution of the Islamic Finance industry and we feel that the Eiger Trading Platform will bring the necessary technology to their innovative platform. This is, we hope, the start of a successful relationship, and this alliance further demonstrates Eiger's continued commitment to being first in our peer group for process automation."

The partnership between Instimatch Global and Eiger Trading Advisors aims to drive innovation and automation in the Islamic finance industry, providing financial institutions with a comprehensive solution for Sharia'a-compliant transactions.

Instimatch Global is an award-winning digital Platform for trading cash deposits across multiple geographies, sectors, and currencies, offering unparalleled market depth. The digital Network enables a global community of institutional borrowers and lenders to directly engage with each other and execute on their liquidity needs. Instimatch operates out of Zurich, London, and Doha, and currently has over 150 institutional clients across 21 jurisdictions.

Incorporated in 2009, Eiger Trading Advisors Ltd is a UK-based financial technology firm providing commodity trade facilitation and execution services to the Islamic financial marketplace through an award-winning online commodity trading platform called the Eiger Trading Platform. The platform provides real-time support to the Sharia'a-compliant banking products of Islamic financial institutions, specializing in working closely with clients to support their digitalization objectives.