Entrex Carbon Market mulls securing Fatwa; aspires to list in Middle Eastern market

Entrex Carbon Market (Entrex), a Florida-based blockchain-enabled carbon offsets and futures trading platform, is considering pursuing a Shariah compliant Fatwa for its offerings pursuant to the investor mandate, Stephen H Watkins, CEO of Entrex, told ISFI.

“Today, we do not have a Fatwa but anticipate requesting one pursuant to the investor mandate. We have worked with parties domestically but need to align interests,” Watkins shared.

According to Watkins, Entrex has nearly US$520 million of project financings which could be funded through Shariah compliant structures across roughly 200 projects.

Commenting on the motivation behind its recently announced Shariah compliant revenue shares securities, Watkins noted that the platform had been approached by a number of domestic income-focused funds for project financing, some of which have Middle Eastern investors who asked if it is possible to create Shariah compliant revenue securities.

The Shariah compliant securities are six-month project financings, with KPMG managing the cash flow and profitability of each project on behalf of Entrex and the investors.

Watkins further shared that the company has ambitions to list its securities in a Middle Eastern trading market.

“We have a series of products and would love to list the securities in a Middle Eastern trading market which would provide an interesting green focus for the exchange and Shariah compliant securities for the audience,” Watkins added.

Founded in 2001, Entrex focuses on creating a marketplace to find, research, track, manage and trade quality carbon offset securities. The platform also allows investors to trade entrepreneurial securities by geography, sector or commodity.

Click here to view the full article.

The information on this page may have been provided by a contributor to ChinaGoAbroad, and ChinaGoAbroad makes no guarantees about the accuracy of any content. All content shall be used for informational purposes only. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting such content (including texts, pictures, photos and diagrams) to ChinaGoAbroad for publication. ChinaGoAbroad disclaims all liability arising from the publication of any content/information (such as texts, pictures, photos and diagrams that infringe on any copyright) received from contributors. Links may direct to third party sites out of the control of ChinaGoAbroad, and such links shall not be considered an endorsement by ChinaGoAbroad of any information contained on such third party sites. Please refer to our Disclaimer for more details.