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Markaz launches Islamic MENA investment fund

Markaz launches Islamic MENA investment fund
Photo Credit: Arabianeye-Reuters
MARKAZ
MARKAZ
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Kuwait Financial Centre (Markaz) launched on Tuesday “Markaz Islamic MENA” fund which aims to increase capital by investing in the shares of listed companies as well as the Sharia-run investment funds.

Islamic MENA is among three other funds launched by Markaz in 2015, said CEO in the Middle East and North Africa region (MENA) region Amany Al-Omani, according to Kuwait news Agency.

The CEO added that the fund’s scope is on listed and unlisted Sukuk in the targeted markets, including Kuwait, Bahrain, KSA, Qatar, Oman, UAE, Egypt, Jordan, Lebanon, Morocco, and Tunisia.

Al-Omani noted that the distribution of assets will be on shares by 60%, while the banknote and Sukuk will be 40%.