global manages two islamic funds for qib
AL-Sumait: Al Sanabel will offer great opportunities for Investors to access the Qatari market
Global Investment House "Global" today that is managing two recently launched new investment funds for Qatar Islamic Bank's (QIB) with a paid up capital of 2 billion Qatari riyals investing in assorted listed stocks of companies undertaking authorized activities.
QIB decision to assign Global as fund manager is due to the company’s active and impressive track record and in-depth experience in managing Investment Funds in general in addition to Islamic products in the local and regional markets.
Mr. Bader AL-Sumait, Executive Vice President at Global said, that the Sanabel (A & B) funds will invest primarily in selected stocks of Qatari companies listed in the Doha Stock Market (DSM) complies with the principles of the Islamic Shari’a laws in accordance with many studies that confirm the excellent and positive investment opportunities in these companies shares.
He continued that the idea of the fund's establishment was to benefit the strong growth momentum and economic growth the state of Qatar is witnessing, in addition to the growth of shares in companies listed in DSM.
The funds will provide investors opportunities by playing a key role in expanding Islamic investment activities, consolidating the national capital market and achieving high index returns over the national capital market.
He pointed that the date of subscription commenced on October 28th, 2007.
AL-Sumait affirmed that the Fund is expected to achieve high returns, as this partnership will allow QIB to benefit from Global's experience in the management of investment funds in the region.
He stated that Global constantly work to enhance its expertise in the Gulf region by strengthening its presence in several regional markets, whether in specific economic sectors or in investment funds that have are general or market oriented.
AL-Sumait stressed that several investment companies and global asset management companies are currently trying to enter the region and take advantage of the growth of the economies of the Gulf States.
He ended by thanking QIB for choosing Global to manage their fund, as it affirms the bank’s progressiveness in Islamic banking.
It is worth mentioning that Global is one of the largest investment companies in the Middle East, managing over 30 funds locally and regionally in various sectors. Global currently manages assets exceeding 8.4 billion dollars. In addition, Global research department conducts systemic coverage on various markets and sectors in the Gulf, the Middle East, and North Africa (MENA) regions.
