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Article: Firm plans to raise $100m for key fund.
- Article from:
- Gulf Daily News (Manama, Bahrain)
- Article date:
- September 9, 2009
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MANAMA: Bahrain-based Islamic investment house Tharawat said it plans to raise $100 million by year-end for a sukuk fund it recently launched to snatch up bargains on the secondary market.
Chief executive Arif Mohammed Al Alawi also said that Tharawat expected to raise $200 million for the open-ended fund targeting individuals and institutional investors over the next two years.
Sukuks have typicallly been bought up and held until maturity by banks, preventing individual investors from accessing that market.
The market was badly hit by the global liquidity freeze last year, but a number of sovereigns and state-affiliated institutions have come ...