A Shariah compliant interbroker and technology provider is expanding both its geographical presence and strategic focus as the company adapts to a changing financial landscape.
UK-headquartered DDGI has officially launched a Malaysian representative office in Kuala Lumpur which it will use to serve its growing Malaysian clientele and as a gateway into other ASEAN markets including Brunei, Indonesia and Singapore.
The representative office is DDGI’s parent DDCAP Group’s third, after London and Dubai.
Having served the Malaysian market for over two decades, it was high time the technology service provider established a physical presence in Kuala Lumpur, DDCAP Group Managing Director Stella Cox said. The group, which received an in-principle approval by the Malaysian Investment Development Authority last September for its Malaysian operations, has appointed seasoned Islamic finance practitioner Roslan Ahmad as chief representative.
The physical expansion into Malaysia coincides with the group’s renewed strategic focus: sustainable and impact finance.
“We started to look at how the world was evolving and like most firms, we’ve been engaged with corporate social responsibility for a long time. But like most firms as well, we’ve realized that sustainable and responsible actions and adopting most of the process for investments and financial transactions and policies are a different discipline from corporate social responsibility and so we’ve embarked upon a process of integrating those principals for ourselves,” Cox, who sits on the board of trustees of RFI Foundation (a think tank for responsible finance), explained to IFN Fintech. “Our aspiration is to connect our clients within the global Islamic financial markets responsibly and that means in terms of asset origination, we’ll be following a process to ensure that we have a sustainable and responsible approach toward the commodity we engage with and the other asset classes we are involved.”
As an observer member of the Responsible Finance Institute, DDCAP has also began embracing UN’s Sustainable Development Goals, in particular gender diversity, innovation and partnership.
“As we expand, the whole basis of impact and its integration with Shariah compliant practices has a very firm foundation here in Malaysia and also in Southeast Asia,” Cox shared