The off-exchange market for GAM certificates and receivables
KaraFi brings buyers and sellers of GAM certificates and bills of exchange together in one safe, confidential market: verified identities, every request reviewed by an expert, smart matching and three ways to deal — direct, brokered and expert-assisted.
Whether you hold GAM certificates, have surplus cash or run a supply chain, KaraFi lays out the way.
Turn GAM certificates or bills into cash before they mature.
Core services are free in phase one
Name the maturity and rate you want, and holders make you offers.
Core services are free in phase one
Organise your supply-chain finance with Kara Chain.
Core services are free in phase one
In phase one KaraFi runs four sections, each answering one financial need of supply-chain businesses.
The off-exchange market for GAM certificates: discounting requests, smart matching and the trading board.
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Financial orchestration, coordinated financing instruments, training and accounting systems for your supply chain.
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Specialist advice on bank facilities and commitments, sukuk and small sukuk, IPOs and knowledge-based financing.
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The blog, Kara Pod and Kara TV: learning and analysis on new financing instruments.
OpenPublished supply and demand, the spread of maturities and average discount rates — without the parties' names.
Supply
0 live requests
Demand
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Maturity distribution
The three principles the KaraFi market is built on
Names and contact details never appear on the board; the two sides are introduced only once a connection is made.
Sending a request to the market requires a verified identity, and certificates are checked against the bank's SMS.
In phase one every request is reviewed by KaraFi's experts before it is published, and request limits keep the market clean.
From sign-up to a deal, in four steps
Complete your trading profile and earn the green tick with an official introduction letter.
Save a buy or sell request in your cartable and send it to the market when you are ready.
KaraFi's experts review and publish every request, and smart matching finds a fitting counterparty.
Once a connection is made, the counterparty's details appear and the deal is done directly or with KaraFi alongside.
A productive credit certificate (GAM) is issued by a bank against real supply-chain trade. Its holder can discount it before maturity to raise cash, while the buyer invests at a known rate backed by the bank. Each certificate has a nominal value of one million rials and matures within twelve months.
Read moreWhen you file a request you choose how the deal should run.
Once connected, the two sides see each other's details and negotiate directly.
KaraFi's brokerage desk runs the negotiation and introduces the two sides once they agree.
A KaraFi expert publishes the request on your behalf, finds the counterparty and stays with you until the deal is done.
The banks that issue GAM certificates — and soon, transferring receivables through a direct bank-network connection.
What are GAM certificates, and why are they bought and sold?
A GAM certificate is a financial asset with a fixed maturity: buyers use it to manage liquidity, and holders sell it before maturity to turn it into cash.
KaraFi marketplace rules in phase one
Basic services are free, identity verification is required to publish, and each account has at most 3 buy, 3 sell and 4 active requests.
Open an account, get the green tick and send your first request to the market — the basic services are free.
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