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Rasmala launches Shariah compliant Saudi equity fund
Source: BI-ME , Author: BI-ME staff
Posted: Tue July 28, 2009 12:50 pm

SAUDI ARABIA. Rasmala Investments Saudi announced today the launch of its Shariah Compliant “Rasmala Saudi Equity Fund”.

The new fund will predominantly invest directly in the Shariah Compliant securities listed on Tadawul. The fund is denominated in Saudi Riyal with a minimum subscription amount of SAR 50,000.

“We believe that the fundamentals of the Saudi economy will remain robust given the growth in spending by government entities. 

Further, the prospects for the Saudi financial market are attractive in the medium term and beyond.” said Hamad Al Huthaili, Managing Director of Rasmala Investments Saudi.

“The recent price adjustments in the Saudi Stock market have helped to create a valuable opportunity for long term investors” added Muhammad Shabbir, Head of Asset Management of Rasmala Investments Saudi

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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