Shariah-compliant supply chain finance solutions provider Tawreeq Holdings has appointed former Fimbank president Margrith Lütschg-Emmenegger to its board of directors.
“The appointment marks a significant milestone for Tawreeq as it seeks to build its novel shariah-compliant factoring and reverse factoring platform,” reads a statement issued by the company.
Lütschg-Emmenegger has over 30 years’ experience in trade finance, with a special focus on forfaiting and factoring. She joined Fimbank in 2003 as executive vice-president, responsible for business development and was appointed to president in 2004. She retired from the position at the end of 2014.
Among her many accomplishments, Lütschg-Emmenegger co-founded the International Forfaiting Association (now the International Trade & Forfaiting Association, ITFA) and served as chairman of the International Factors Group (IFG). She has also held positions at Barclays, Midland Bank Aval and West Merchant Bank (now WestLB).
“I am delighted to join the board of one of the most innovative new financial services firms in the Middle East,” says Lütschg-Emmenegger. “Tawreeq is working to solve a significant problem in the region by combining factoring and reverse factoring in a shariah-compliant structure.”