$20m Islamic fund targets Asia

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

[caption id="attachment_8917" align="alignleft" width="300"] Mohab Mufti, CEO of Asiya Investments[/caption] 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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

 

 

NO COMMENTS

Leave a Reply