Elfina to promote Reliance Money’s shariah-compliant portfolio management scheme in UAE

Elfina to promote Reliance Money’s shariah-compliant portfolio management scheme in UAE
• Reliance Money is the subsidiary of Anil Dhirubhai Ambani Group's Reliance Capital Ltd & Elfina is the investment arm of House of Patels
• Eflina Dubai launched Reliance Money’s Shariah compliant fund (India’s only Shariah Compliant Fund), was announced by Mr. Asgar Patel – Chairman of Eflina & House of Patels
Elfina Financial Investment Consultancy, the investment arm of the House of Patels has announced that the company will promote and support the distribution of Reliance Money’s Shariah compliant portfolio management schemes and other similar financial products in the UAE. This is India’s only Shariah Compliant Fund and the minimum investment required is US$50,000.
Reliance Money, India’s leading financial services firm, recently launched India’s first Shariah-compliant portfolio management scheme for investors seeking to invest as per the Shariah laws in India and West Asia. Reliance Money is a wholly owned subsidiary of Reliance Capital part of the Anil Dhirubhai Ambani Group.  (ADAG).
"Reliance Money thru Elfina Financial Consultancy Services, will offer financial products in compliance with Islamic sentiments and encourage people to make investments in Indian markets," said Anand Aggarwal, Vice President, Shariah Fund from Reliance Money.
“We are delighted to promote India’s first Shariah compliant portfolio management services for the audience in the UAE. Elfina will work with Reliance Money to ensure compliance with Shariah Laws and market new financial products and services of Reliance Money, said Elfina’s and House of Patel’s Chairman Mr. Asgar Patel, who also plans to launch similar financial products, for distribution through Eflina throughout the UAE & Middle East with similar fund arrangements.
Elfina currently manages the portfolio of investors for investments in India and also other global financial products. Reliance Money plans to market these schemes extensively in India and West Asian countries. 
Parsoli Corporation in India will work with Reliance Money to ensure compliance with Shariah Laws and market new financial products and services of Reliance Money. Parsoli Corporation Ltd is a public limited company listed on Bombay Stock Exchange and Ahmedabad Stock Exchange. It is a corporate member of the National Stock Exchange of India.
"A significant part of the investor base in the UAE has not been offered appropriate Shariah-compliant financial products within the Indian marketplace in compliance with the relevant Islamic sentiments. This portfolio management scheme proposed by Reliance Money with Elfina would enable us to address this sector and reach out to a large section of such investors based in the UAE," said Mr. Aggarwal who was here with his team to promote and support the distribution of Reliance Money products in the UAE.
Reliance Money and Wall Street Finance Ltd in India, part of the House of Patels also has a commercial tie up to sell these Funds & portfolio management schemes through its 45 widely spread branches all over India.  Wall Street Finance Ltd. has already begun the distribution of mutual fund, bullion gold coin and portfolio management schemes and similar bouquet of financial products to all the customers across its network of branches. Wall Street Finance Ltd. covers nearly 3500 agents India wide through its distribution network which offers the Indian consumers a complete bouquet of financial services and products under one roof, explained Mr. Areef Patel – Vice Chairman – Wall Street Finance Ltd. – India.