Shamil Bank, a wholly-owned subsidiary of Ithmaar Bank, has structured a one year Sharia compliant multi-asset investment fund with an attractive return on investment.

The private placement of the Shamil Solid Return Fund, which is registered with the Central Bank of Bahrain, would continue till the end of October.

Brooke Borden, Shamil Bank’s assistant general manager, Investment Banking said the Fund was designed specifically for expert investors who would like to diversify their investments in the current market environment.

“The Shamil Solid Return Fund is an innovative Sharia compliant investment product that provides investors with exposure to a diversified basket of four Islamic asset classes, namely Islamic equities, sukuk, modaraba investments and crude oil for a period of one year,” said Borden.

According to Borden, the fund’s target capital is $25 million, and Ithmaar Bank will act as the private placement agent for the product.-TradeArabia News Service