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Article: Badr Al Islami and Mashreq Capital aunches Sharia complaint fixed income fund
- Article from:
- Al Bawaba
- Article date:
- July 6, 2009
CopyrightCopyright 2009 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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In response to the growing demand for Shariah compliant financial
instruments, Mashreq Capital DIFC Ltd, which is regulated by the
DFSA, has launched the Badr Al-Islami Income Fund in partnership
with Badr Al-Islami, the Islamic banking division of Mashreqbank
psc.
The fund is one of the first regional Islamic Fixed Income funds
and all investments in the Fund are approved by its Shariah
Supervisory Board that consist of esteemed members; Sh. Abdalla Al
Manei, Sh. Nizam Yaqouby and Sh. Dr. Mohamed Al-Gari. The objective
of the fund is to generate long term returns in the 7% range without
excessive volatility. The Fund is currently available only to
Professional Clients. Professional ...