Written by: Ahmed Awad Ahmed Al Hamad Managing director of Kuwait China Investment Co. said , in exclusive statement to Mubasher , that the company has launched KWD1 billion ($3.4 billion) Murabaha Fund in Asia.

The fund was launched in cooperation with Gulf Bank which will undertakes marketing the fund's units, noted Al Hamad.

Murabaha Fund provides a Sharia -compatible alternative solution to money market funds which are incompatible with the provisions of Islamic Sharia.

The recent slump in Oil prices had a good impact on the company's funds, as most of them exist in importing oil countries, added Al Hamad.

Elaborated, Al Hamad revealed that the company seeks to launch new investment funds in coordination with number of financial entities.

On other hand, the company's general assembly meeting has approved to change the company's name to become “Asiya investments".

In 2013, Asiya Investments has launched an Islamic trade finance fund with $20 million in seed capital, aiming to cater to small Asian manufacturer.

Translated by: Shaimaa ELSarky