QIB-EFH launches Global Sukuk Plus Fund |
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DOHA: The Qatar Islamic Bank (QIB)Qatar Islamic Bank (QIB)
in partnership with its European arm, the European Finance House (EFH), launched Global Sukuk Plus Fund here on Sunday. The event took place at Grand Hyatt Doha and present were senior QIBQIB, EFH officials and prominent bankers and businessmen.
The Fund is Shariah-compliant and regulated by the UK's Financial Services Authority. EFH is a Shariah-compliant financial institution in Europe and a leading force in the growing Islamic banking market.
The Global Sukuk Plus Fund is a weekly traded mutual fund which invests in global sukuk markets. The fund's assets will be invested in sukuk issued by sovereign, quasi-sovereign and corporate issuers and sourced globally.
The minimum investment for the fund is ¤125,000 or its equivalent.
Value can be added through investment in Shariah-compliant credit investments such as syndicated Murabaha, trade finance and structured investments.. Eventually, additional new investment products will be introduced as per the decision of the Investment Committee.
This Luxembourg-based Investment fund is open to institutional, private and corporate clients seeking investment opportunities managed by an expert Sharia'-compliant bank. EFH's Global Sukuk Plus Fund is supported by a global marketing campaign and offers a range of benefits as compared to fixed income investment, featuring greater liquidity, better diversification and, therefore, enhanced yield and return.
The Fund's active management approach ensures continual credit analysis of both new and existing issues, minimizing the possibility of loss due to default or credit deterioration.
Wider market access is available to this globally-sourced Fund, as EFH links to Shariah-compliant institutions not only in Europe, but also in the GCC, Asia and the wider Mena regions. The fund's simplicity, clear objective, well-defined strategy and transparent structure allow for efficient performance and ease of use.
The investment range of this sukuk Fund spans across QIBQIB's six major Islamic markets and is easily accessed via each of the Bank's affiliates in addition to EFH, including Arab Finance House (AFH)Arab Finance House (AFH) in Lebanon and Asian Finance Bank (AFB) in Malaysia. Global Sukuk Plus Fund clients in Qatar will be serviced by QIBQIB.
The Fund's depth and breadth make it a dynamic Shariah-compliant investment driven by QIBQIB's proven track record of developing and implementing Sharia'-compliant financial concepts for over 25 years. It is a simple, highly-regulated, yet flexible investment product that takes advantage of current market opportunities and long-term expectations to leverage clear advantages and secure investment options for clients.
Salah Al Jaidah, QIBQIB's CEO, said at the launch: "Although the EFH Global Sukuk Plus Fund is London-based, its GCC exposure is to diversify asset class risk. The fund is unique in that it offers greater liquidity, active management, better diversification and ease of use than other fixed income investments."
© The Peninsula 2009
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