Saturday, May 12, 2012
BEIRUT (Zawya Dow Jones)--Saudi Arabia's Al Bilad Investment Co., or ABIC, the investment banking arm of shariah-compliant Bank Al Bilad (1140.SA), has launched an Islamic fund for investment in the shares of local companies, Saudi-based Al Riyadh daily reports Saturday.
The fund's aim is to generate capital and income growth over the medium and long terms, Ayham Al Yousef, chief executive of Al Bilad Investment, said, according to the daily.
Newspaper website: http://www.alriyadh.com/2012/05/12/article735336.html
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
12-05-12 0832GMT
