UAE. The Dubai Multi Commodities Centre (DMCC), the licensing authority for the Jumeirah Lakes Tower (JLT) Free Zone, is pleased to announce that its Executive Chairman, Ahmed Bin Sulayem, has been named as one of the “Rising Stars” in MENA Fund Manager (MENA FM) 2012 Power 50.
MENA FM’s third annual Power 50 identifies the top-performing individuals across the Middle East and North African fund industry. The “Rising Star” category recognises six young performers within the industry as ones to watch in the year ahead.
Ahmed Bin Sulayem, Executive Chairman of DMCC commented: "To have been named in Power 50 as a Rising Star is a proud moment for me and a direct result of DMCC’s success. We have worked hard over the last ten years to build DMCC into the regional leader in commodities trade and provider of a unique commodity focused ecosystem.
"I am particularly proud of the DSAM Kauthar range of Shariah-compliant hedge funds that have won many awards for innovation. In particular I would like to thank my team, many of whom who do not receive public recognition of their efforts for helping me accomplish these extraordinary achievements."
The Kauthar Gold Fund has seen an average annual return of 30% since inception in January 2009 and has been awarded the MENA FM Award for “Outstanding Performance & Innovation” for three years running.
The Fund is part of DSAM’s Shariah-compliant Kauthar Commodity Fund. DSAM is a joint-venture between the Dubai Commodities Asset Management, the asset management division of the Dubai Multi Commodities Centre, and Shariah Capital, the leading US-based Shariah financial advisor and consultant.
The nominations for the Power 50 were determined by a survey of the magazine’s readership and interviews with key figures in the fund management space. A shortlist of 50 names was then confirmed by a judging panel of MENA fund industry experts.
MENA FM is the only magazine dedicated to providing a cutting-edge insight to the MENA fund management space. Each issue includes exclusive news, performance data, investor profiles, industry comment and topical articles, read by fund managers, investors and service providers across the world.
About Dubai Multi Commodities Centre Authority
The Dubai Multi Commodities Centre Authority (DMCC) is the free zone authority for the Jumeirah Lakes Towers. The DMCC, established in 2002, is a strategic initiative of the Government of Dubai with a mandate to provide the physical, market and financial infrastructure required to set up a commodities market place in Dubai. The Centre attracts key players throughout the entire value chain of a wide range of commodities sectors, together with relevant support industries such as finance, logistics and insurance.
DMCC has established a robust infrastructure, including free zone status, trade networking platforms, secure vaults and purpose-built storage facilities. Resident companies of DMCC are offered highly attractive benefits under a free zone status, including a 50-year guaranteed tax holiday, 100 per cent business ownership, full ownership of business premises and a secure regulated environment.
DMCC has also implemented a dedicated compliance policy in the organisation, which is in line with the compliance related laws and regulations of the UAE Federal Government and the competent international bodies.
About Dubai Shariah Asset Management
Dubai Shariah Asset Management, DSAM, was established to provide Shariah compliant investment products for institutions and retail distributors worldwide. Based in Dubai, DSAM is currently partnering to distribute investment products, including white-labeled funds, in the GCC, Middle East, Asia, and Africa and is licensed, through Dubai Commodity Asset Management, (DCAM), as an investment company that is regulated by the Central Bank of the UAE.
DSAM provides financial services to sophisticated investors with an interest in Shariah compliant products that are competitive in every way with their conventional counterparts.