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Tue 1 May 2007 12:00 AM

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QIB launches Sanabel Islamic Fund

Qatar Islamic Bank (QIB) is to set up a QR1 billion (US$274.8m) fund to invest in stocks listed on the Doha bourse, the worst-performing exchange in the GCC this year QIB and Global Investment House of Kuwait will manage the fund, called Sanabel.

Qatar Islamic Bank (QIB) is to set up a QR1 billion (US$274.8m) fund to invest in stocks listed on the Doha bourse, the worst-performing exchange in the GCC this year QIB and Global Investment House of Kuwait will manage the fund, called Sanabel.

The fund will target local and foreign investors, and will focus on Shariah compliant investments. Investors can subscribe to the fund with a minimum subscription of QR50,000.

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