FCS is the financial services arm of the Haji Saeed Ahmed Lootah Group, specialized in providing financial services for the prospective corporate, government and small business houses on non-interest basis and in accordance with Islamic Sharia.
FCS was created with the objective of developing and expanding the Islamic Economic System among Islamic banks, financial institutions and individuals at large.
FCS focuses on the development and expansion of Islamic Financial Services (Financing, Investment, Consultancy, Warehousing, Custodian) and coordinates between all the concerned parties. FCS arranges Islamic funds and monitors its use within the framework of Islamic Sharia.
The activities covered are:
- Identification of a deal
- Appraisal (due diligence) of the deal
- Introduction of parties
- Structuring the deal in accordance with Islamic Sharia
- Negotiation of terms & acceptance.
- Preparation of documentation
- Constant monitoring of the funds (from Deployment to final repayments)
PLUS
- Arranging fully staffed warehousing & custodian services for trade related transactions.
FCS assists in selecting the best mode of Islamic financing for your business under five modes of Islamic financing namely Musharakah, Murabaha, Modaraba, Ijarah and Istisna (see Modes of Financing)
FCS identifies potential acquisition and provides advice on the best ways to convert the corporate and financial structure of the company from conventional to Islamic.
FCS obtains mandates from the Government, financial institutions and other corporate organizations and raises financing to meet their requirements. This is done through syndication and even through creating special purpose Modaraba funds within the framework of Islamic modes of operations.
