Record Financial Group Launches Sharia-Compliant Investment Platform to Tap Growing Islamic Finance Market

Record Financial Group Launches Sharia-Compliant Investment Platform to Tap Growing Islamic Finance Market

Record Asset Management GmbH, the European arm of London-listed Record plc, has announced the launch of Record Amanah, a specialized platform designed to deliver Sharia-compliant investment solutions to institutional investors worldwide.

The move positions the specialist investment group to capture opportunities in a global Islamic finance market valued at approximately USD 4.0-5.1 trillion in 2026, which market research firms project will grow at annual rates of 9-12% to reach USD 8-12 trillion by the mid-2030s. The launch comes as the industry has expanded at an average annual rate of 10% over the past decade, with assets under management for Sharia-compliant funds specifically surging from $47 billion in 2008 to exceed $120 billion by 2023.

Record Financial Group, founded in 1983 and publicly listed since its November 2007 initial public offering that raised $183 million, manages USD 115 billion in assets for institutional clients including pension funds, foundations, sovereign institutions and asset managers. The firm operates from offices in London, Hamburg, Zurich, Zug, New York, and Hong Kong.

Partnership with Islamic Finance Specialists

Record Amanah has been established through a partnership with Khalij Group, a London-based Islamic finance specialist established in 2008 as a Shari'a consulting firm. Khalij Group, which is authorized and regulated by the UK Financial Conduct Authority, maintains presence in the UAE, Bahrain, and Pakistan, bringing extensive experience in structuring and advising on Sharia-compliant investments.

The platform follows several successful Sharia-compliant transactions completed by Record, most recently for a client in Brunei, reflecting growing institutional demand for investment opportunities that combine attractive risk-adjusted returns with adherence to Islamic finance principles.

Focus on Private Markets

Record Amanah will initially concentrate on private markets and private equity opportunities. This focus aligns naturally with Islamic finance principles, as the private equity model operates through profit-and-loss sharing structures known as Musharakah, where equity investors share both risks and returns while avoiding interest-based debt structures that are prohibited under Sharia law.

The platform will structure investments in accordance with established Sharia principles while maintaining Record's rigorous standards for investment management, risk oversight, and governance. Sharia-compliant private equity funds typically appoint Shariah Advisors or Supervisory Boards to ensure investments avoid prohibited activities including interest-based financial services, gambling, alcohol production, and other non-halal products.

Strategic Geographic Targeting

The initiative strengthens Record's ability to serve international investors, particularly across the Middle East and Southeast Asia where demand for Sharia-compliant investment solutions continues growing. The Middle East GCC region accounts for approximately 50% of global Islamic finance assets, while Southeast Asia, led by Malaysia and Indonesia, represents roughly 20% of total assets.

Despite nearly 25% of the world's population being Muslim, less than 1% of global financial assets currently comply with Sharia principles, indicating substantial untapped market potential. Record joins major global asset managers including BlackRock, HSBC, Amundi, Franklin Templeton, and Invesco in launching Sharia-compliant products, reflecting growing mainstream institutional interest in Islamic finance.

Jan Hendrik Witte, CEO of Record Financial Group, stated that the launch represents a natural evolution of the firm's private markets strategy. He emphasized that combining Record's investment expertise with Khalij's deep knowledge of Islamic finance positions the group to meet growing demand for high-quality Sharia-compliant private market investments.

Asim Khan, CEO of Khalij Group, noted that Islamic finance is founded on principles of partnership, transparency and investment in productive economic activity. Through Record Amanah, these principles will be integrated with Record's institutional investment expertise and global reach.

The launch forms part of Record's broader strategy to expand its private markets offering and create differentiated investment capabilities for clients globally, particularly as non-Muslim majority countries like the UK, South Africa, and Australia increasingly adopt Islamic finance principles to attract investments from Muslim-majority countries.