Saudi Arabia: Qatar First Investment, Gulfmena to set up sharia-compliant JV.

By bne IntelliNews September 21, 2010
Qatar First Investment Bank (QFIB) and asset management company Gulfmena Alternative Investments plan to establish a sharia compliant asset management firm, the companies said in a joint statement. The new company is expected to start its operations in Q4 and will cater to qualified investors such as Islamic banks, foundations and charitable organisations. Demand is increasing on Islamic finance and the current USD 52bn market, as estimated by Ernst and Young, is expected to rise further in the next couple of years as more investors demand asset management tools which are compliant to Islamic laws, especially in the MENA region.

Related Articles

Bahrain Middle East Bank fully repays USD 13mn debt.

Bahrain Middle East Bank made a USD 13mn full repayment of a loan obligation including a USD 1.4mn interest payment taking total repayments by the troubled lender to USD 43mn, the bank said in ... more

National Bank of Abu Dhabi launches USD 17mn Uridashi bond, MENAs first ever.

National Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, initiated a USD 17mn fifteen-year Uridashi bond, MENA's first ever, allowing the bank to directly access Japanese ... more

GCC economies resilient to MENA turmoil but constrains persist S&P.

The GCC economies remain insulated from economic and political turbulence in the MENA region and globally but structural challenges continue to constrain sovereign ratings, ratings agency ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335