Qatar Islamic Bank launches Global Sukuk Plus Fund

Qatar Islamic Bank (QIB) has launched Europe-based Global Sukuk Plus Fund, according to the nation's The Penisula daily.

QIB, a major global Islamic banking network, announced its London-based affiliate, European Finance House (EFH), has initiated a European-based platform designed to originate Shariah-compliant investment products, the daily added.

EFH is a primary Shariah-compliant financial institution in Europe, regulated by the UK's Financial Services Authority.

"The growing interest in the Islamic financial market has demanded that we draw upon the innovation of the QIB network to develop investment products which will thrive within the current environment. The Global Sukuk Plus Fund is a very forward-looking product for the Shariah-compliant market and a strong option for clients thanks to the London-based bank fund's robust investment guidelines," the newspaper quoted Jean-Marc Riegel, QIB's General Manager, Investment Banking and Development, as saying.

"The Fund's geographic and sector diversification takes advantage of multiple sources, while the Fund's active management maximizes yield and return. The investment range of this Sukuk Fund spans across six major Islamic financial markets and is easily accessed via each of QIB's affiliates in addition to EFH, including Arab Finance House (AFH) in Lebanon and Asian Finance Bank (AFB) in Malaysia. Global Sukuk Plus Fund clients in Qatar will, of course, be serviced by QIB."

The EFH-managed Global Sukuk Plus Fund is a weekly dealing mutual fund which invests in global sukuk markets. The QIB and EFH joint-effort Fund's assets will be invested in sukuk issued by sovereign, quasi-sovereign and corporate issuers and sourced globally, the daily informed.

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