NEWS
Islamic Commodity Online Network (ICON)
Ambro continues to expand ICON to service new clients and new markets. The online platform, which was launched in 2014, enables real-time commodity transactions for Islamic Financial Institutions using commodity murabaha structures. For more information on ICON please click here and to register interest please contact Ambro.
Jeddah Islamic Port becomes a London Metal Exchange Good Delivery Point
On July 29, 2024 the London Metal Exchange (LME) confirmed the listing of the Jeddah Islamic Port as an LME Good Delivery Point. LogiPoint, an Ambro shareholder and the Jeddah Islamic Port bonded-zone operator, played a key role in the LME approval process by demonstrating to the LME that Jeddah meets with the operational and logistical criteria for new LME warehouse locations – such as being an important area of net consumption and having an effective transport network. Ambro is excited for the opportunities this may bring to metal producers and consumers in Saudi and the GCC!
Ambro continues to expand ICON to service new clients and new markets. The online platform, which was launched in 2014, enables real-time commodity transactions for Islamic Financial Institutions using commodity murabaha structures. For more information on ICON please click here and to register interest please contact Ambro.
Jeddah Islamic Port becomes a London Metal Exchange Good Delivery Point
On July 29, 2024 the London Metal Exchange (LME) confirmed the listing of the Jeddah Islamic Port as an LME Good Delivery Point. LogiPoint, an Ambro shareholder and the Jeddah Islamic Port bonded-zone operator, played a key role in the LME approval process by demonstrating to the LME that Jeddah meets with the operational and logistical criteria for new LME warehouse locations – such as being an important area of net consumption and having an effective transport network. Ambro is excited for the opportunities this may bring to metal producers and consumers in Saudi and the GCC!