Alle Insights

The Home Is Not the Receivable: How Ijarah Turns Property Finance Into an Institutional Asset

Egypt’s Nawy Now and Synergy Capital have closed a second EGP 633 million issuance of an Ijarah-based fixed-income fund, taking the programme above EGP 1 billion in less than a year. Nawy says the fund buys mortgage receivables from its home-finance portfolio, freeing balance-sheet capacity for new financing. The structure is a useful reminder that property, the Ijarah contract, the customer’s payment obligation, the receivable, the portfolio transferred to a fund and the investor’s fund...

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The Invoice Exists. The Receivable May Not: What Radiant World Reveals About Trade-Finance Asset Identity

The widening Radiant World disputes show why an invoice is not enough to establish a financeable receivable. In one Singapore lawsuit, Incomlend alleges that it advanced $31.7 million against two Glencore invoices with a combined face value above $34 million, only to be told later that the invoices had already been paid and that the underlying contracts were not genuine. Separately, a Jefferies-linked fund has obtained a London freezing order of up to $499 million against Radiant World, its...

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