$20m Islamic fund targets Asia

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Mohab Mufti CEO Asiya
Mohab Mufti, CEO of Asiya Investments

Asiya Investments Dubai, a unit of Kuwait-based Kuwait China Investment Corporation, is aiming to capture growth in emerging Asia with the recent launch of a $20 million Shariah-compliant fund.

The Asia Islamic Trade Finance Fund is targeting a 5 per cent annual rate of return for investors in accordance with Shariah principles, or double the rate of zakat.

The open-ended fund with be operated through Asiya’s Hong Kong investment arm in partnership with the fund’s advisor, EuroFin Asia Group, both of which provided the seed capital.

The launch of the fund comes at a time of continued growth in cross border trade between Asia and GCC countries, a trend that Asiya CEO Mohab Mufti believes will drawn considerable interest to the initiative.

“Most [GCC investors] are looking for ways to expand their exposure to Asia via lower risk strategies. Currently there is a shortage of opportunities which offer both attractive income streams and lower risk profiles, especially for those investors who require their investments to be Shariah-based,” he said.

Trade between the GCC and Asia is growing at a rate of 25 per cent per year.

Home to the world’s fastest growing consumer market, intra-Asian trade is expected to grow four-fold from $5 trillion to $20 trillion by 2020.

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Reading Time: 1 minute

Mohab Mufti, CEO of Asiya Investments

Asiya Investments Dubai, a unit of Kuwait-based Kuwait China Investment Corporation, is aiming to capture growth in emerging Asia with the recent launch of a $20 million Shariah-compliant fund.

Reading Time: 1 minute

Mohab Mufti CEO Asiya
Mohab Mufti, CEO of Asiya Investments

Asiya Investments Dubai, a unit of Kuwait-based Kuwait China Investment Corporation, is aiming to capture growth in emerging Asia with the recent launch of a $20 million Shariah-compliant fund.

The Asia Islamic Trade Finance Fund is targeting a 5 per cent annual rate of return for investors in accordance with Shariah principles, or double the rate of zakat.

The open-ended fund with be operated through Asiya’s Hong Kong investment arm in partnership with the fund’s advisor, EuroFin Asia Group, both of which provided the seed capital.

The launch of the fund comes at a time of continued growth in cross border trade between Asia and GCC countries, a trend that Asiya CEO Mohab Mufti believes will drawn considerable interest to the initiative.

“Most [GCC investors] are looking for ways to expand their exposure to Asia via lower risk strategies. Currently there is a shortage of opportunities which offer both attractive income streams and lower risk profiles, especially for those investors who require their investments to be Shariah-based,” he said.

Trade between the GCC and Asia is growing at a rate of 25 per cent per year.

Home to the world’s fastest growing consumer market, intra-Asian trade is expected to grow four-fold from $5 trillion to $20 trillion by 2020.

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