fund | Blog - WealthCity

Egypt May Sell Foreign-Currency Sukuk, Deposit Certificates

Jan

2012

Jan. 18 (Bloomberg) — Egypt may issue an Islamic bond or alternatively certificates of deposit in foreign currency for Egyptians abroad, the finance minister said. “We are studying issuing sukuk,” or Islamic bonds, Mumtaz el-Saeed said today by telephone in Cairo. “We are comparing the benefits of issuing certificates of deposit with those of sukuk ...

Crescent Wealth aims for $3bn pool by 2019

Dec

2011

AUSTRALIA’S first Islamic fund manager Crescent Wealth is aiming high, but will it deliver? The company “would be happy” with $3 billion under management by 2019, which represents nearly a quarter of the $13bn pool of funds expected to be allocated to Islamic fund managers by then. That’s a big number given the Crescent Australian ...

Meezan Funds pay dividends of Rs 108 crore to unitholders

Jul

2011

Karachi —The Board of Directors of Al Meezan Investment Management Ltd. (Al Meezan) in its meeting held on July 7, 2011 declared dividend for its three open end funds i.e., Meezan Islamic Fund (MIF), Meezan Islamic Income Fund (MIIF) and Meezan Sovereign Fund (MSF) for the period ended June 30, 2011.The total amount of final ...

Tata’s Shariah fund targets $100 m from Gulf in 3 yrs.

Nov

2010

Tata Group’s investment unit is seeking to attract about $100 million within three years to India’s first Shariah-compliant fund aimed at global investors, targeting equities in a country that lacks regulations for establishing an Islamic debt market. The Tata Indian Shariah Equity Fund has $3 million after being set up in June to tap investment ...

Profit to trump politics in Islamic finance

Jun

2010

Mumbai/Kuala Lumpur The desire to power profit may top all opposition on Islamic finance in India. A small Islamic fund has garnered surprisingly good demand in India as investors chase better returns, suggesting that the country could eventually embrace sharia banking despite strong political opposition. Non-Muslims are the biggest buyers of Taurus Asset Management’s Sharia-compliant ...

Oasis aims to build Shariah-investment fund brand

Jun

2010

By MUSHTAK PARKER | ARAB NEWS Oasis Group Holdings is the pioneer of Shariah-compliant investment products – both equity and property funds and REITs (real estate investment trusts) – in South Africa since it launched its first Islamic fund in August 1998, the Oasis Crescent Global Equity Fund. But over the last few years, using ...

Islamic Finance in India

Apr

2010

Islamic Finance in India Conventional Banking is a part of the financial system. It is not a complete financial system but when we talk about Islamic Banking we wish that all Shariah permissible financial activities should be carried out by a bank. The basic difference between profitable mode of investment in banking and Islamic finance ...

Islamic Finance Will Accelerate India’s Economic Growth

Apr

2010

Islamic Finance Will Accelerate India’s Economic Growth A two-day international conference ends with suggestions to government to seriously consider introduction of participatory banking New Delhi, September 1: The Government of India is prepared to consider the introduction of participatory banking, also known as Islamic banking, with “an open heart and mind”, Rajya Sabha (Upper House ...

An Overview of Shariah-Compliant Funds 1

Mar

2010

Definition Shariah-compliant funds are investment vehicles which are fully compliant with the principles of Islam. The funds are prohibited from making investments in industries categorized as morally deficient, such as those related to gambling or alcohol. Because Islam does not permit any form of exploitation, any kind of investment in conventional banking is outlawed. With ...

Shariah Compliance for PE Funds

Mar

2010

Shariah Compliance for PE Funds There has been a growing demand from investors domiciled in the Gulf Co-operative Council region for investment portfolios to include Shariah compliant instruments. With growing credit crunch, LP defaults in other jurisdictions and other factors that have emerged from the global financial turmoil, the fund managers are evaluating options to ...

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