Who are Eiger Trading Advisors Ltd ?

Eiger Trading Advisors Ltd are an award winning ‘financial intermediary’ based in the United Kingdom, specialising in commodity facilitation services from the Islamic products market.

Eiger offer a market-leading bespoke platform, which enables the real-time purchase, sale and transfer of Sharia compliant Assets 24 hours a day.

How did Eiger develop into what it is today?

Since it’s inception in 2008, the company has aimed to provide technology-driven solution to the Islamic Finance sector, utilising expertise in Sharia-compliant banking, physical asset trading and rigorous IT development.

Through providing this experience-based approach coupled with the bespoke Eiger Trading Platform (ETP), we have consistently drawn a wide base of clients across the Middle East, Asia and Europe, believing in meeting our clients physically on a regular basis.

What is the Eiger Trading Platform (ETP)?

The Eiger Trading Platform is an electronic web-based application, designed exclusively to provide a secure and efficient electronic mechanism, to facilitate the sale and purchase of Sharia-compliant assets for Islamic financial institutions’ commodity Murabaha requirements.

The platform itself has STP at its core. It has been built, maintained and run by our own in-house Development team and is multi award winning.

As well as offering a web based UI experience, we also offer SFTP and Rest API capabilities to our clients.

How do I contact the Eiger Trading Team?

If you have any queries, require further information, and wish to talk to the trading team, and you wish to talk to the team, please use the email address: info@eigertrading.com. This email will allow you to reach out to those people who can help you. Alternatively, use the phone number +44 203 216 2500 to reach the Eiger Office.

What types of financial institutions do we work with?

With over 140 clients globally, we work with a wide variety of financial institutions. These include Islamic and conventional banks consisting of: Treasury, Corporate, Retail and Investment departments. Fintechs; including SME lending, personal finance, Real Estate structured financing and Micro-Financing Lenders.

Where does the company operate?

The company is based in the United Kingdom, and we have a global reach. We undertake regular business trips across the Middle East, South Eastern Asia and Africa, amongst others.

Furthermore, Eiger has employees working in the Middle East and Southeast Asia coupled with a Shariah Board that consists of accredited scholars from KSA, Kuwait, and Malaysia.

Which Scholars make up the Company’s Shariah Board?

Mohamed Ali Elgari (Saudi Arabia)

Dr. Elgari had previously been the company’s Shari’ah Advisor from 2014, and is now the Chairman of the Board.

Commencing in 1985 Dr. Elgari has been an Expert at the Islamic Jurisprudence Academy, Organisation for Islamic Countries (OIC). From 2000 Dr Elgari has been a member of the Sharia’h Council of AAOIFI and a member of the Board of Trustees of AAOIFI.

Dr. Elgari is a member of various Sharia’h Boards of Islamic banks and Takaful companies including the Central Bank of Bahrain, Saudi National Bank, Alinma Capital, Aljazira Capital and the Dow Jones Islamic Markets Index.

Sayed Mohammad Abdulrazzaq Al-Sayed Ibrahim Al-Tabtabaei (Kuwait)

Prof. Al-Tabtabaei has been honoured by the Kuwait University for contributions to academic development and recognized for distinguished efforts by Imam Muhammad bin Saud University in 2014.

He has a wealth of professional experience, including but not exclusive to:

• Chairman, Fatwa Committee, Ministry of Al Awqaf and Islamic Affairs, since 2013
• Former Chairman, Supreme Advisory Committee, overseeing the implementation of Islamic Sharia provisions in the Amiri Diwan, Kuwait.
• Chairman, Fatwa and Sharia Supervisory Board, Kuwait Finance House (KFH) Group
• Former Director, Legal Department, Ministry of Al Awqaf and Islamic Affairs

Mohamad Akram Laldin (Malaysia)

Prof. Akram has presented many papers related to Islamic Banking and Finance and other Fiqh topics at national and international level and has conducted many training sessions particularly on Islamic Banking and Finance for different sectors since 1999.

He is a registered Shariah Advisor for Islamic Securities with the Securities Commission of Malaysia and has acted as Shariah advisor in the issuance of many sukuks. In addition, he is also prolific author of academic works specifically in the areas of Islamic Banking and Finance.

Dr. Akram currently holds the following positions:

• Member of Bank Negara Malaysia Shari’ah Advisory Council
• Chairman of Shariah Supervisory Council of Labuan Financial Services Authority (FSA)
• Member of AAOIFI Public Interest Monitoring Consultative Committee (PIMCC),
• Member of First Abu Dhabi Bank (FAB) Internal Shariah Supervision Committee

Which commodities are supplied by Eiger?

We have access to several common precious metals, our most popular being Platinum and Palladium. We also offer LME Base metals such as Aluminium and Copper. Local and international commodities stored globally are also available.

What type of financial products do we support?

Murabaha and Tawarruq transactions facilitate all the following products: PRS, microfinancing, corporate treasury, retail banking, interbank financing, mortgages, sukuk, retail and corporate transactions.

What is a Murabaha transaction?

The Client purchases commodity from Eiger as agent of the Counterparty. The commodity purchase price is equal to the borrowed amount.

The Counterparty typically elects to sell the commodity to the Client. The commodity is sold for the purchase price, plus profit, on a deferred payment basis.

The Client sells the commodity as principal to The Second Broker, on spot. The commodity sale price is equal to the commodity purchase price.

What is a Tawarruq transaction?

The client purchases commodity from Eiger as Principal. The commodity purchase price is equal to the lending amount

The Client sells the commodity to the Counterparty for the purchase price, plus profit, on a deferred payment basis.

The Counterparty typically sells the commodity to The Second Broker. The Counterparty appoints the Client as an agent, to sell the commodity to the second broker, on spot. The commodity sale price is equal to the commodity purchase price.

What rest API capabilities do Eiger offer?

Our suite of Rest APIs allow for clients to place trades, view documents, and cancel transactions.

This allows clients to place transactions without visiting the Eiger Trading Platform, via their core banking system therefore reducing the possibility human error.

Why not Gold and Silver?

Gold and silver are a currency and are considered Haram, and not a commodity, and therefore they are not supported by Eiger.