Bayan Investment Company announced launching the units of Al-Themar Securities Fund (Islamic Shari’a compliant) for subscription during the period of Monday, 13th August 2007 and until end of Sunday 2nd September 2007. Applications are honored at Boubyan Bank (The Selling Agent) and at Bayan premises.
Mr. Ahmad Al-Quraishi – Manager of Local Investment Department – declared that choosing establishing a Shari’a compliant Fund comes from Bayan’s continuous efforts to provide unique investment opportunities and to meet its client’s demands and market trend, in addition to the out performance lately witnessed by many Islamic companies and of shari’a compliance in Gulf stock markets and the increased demand on Islamic financial tools in GCC in general.
Mr. Al-Quraishi also said that Al-Themar Securities Fund is an open-ended Investment Fund with a capital of K.D. 5 – 50 Million, and duration of 10 renewable years. Minimum subscription limit to the Fund is 5000 unit of K.D 1 and subject to 2% subscription fee. The Fund aims at achieving the best possible returns and profits by adopting a balanced investment policy through allocating 75% of its investments to invest in the top 25 company of shari’a compliance and listed in Gulf stock markets, while allocating 25% of its capital to invest in other Islamic or shari’a compliant companies and according to its performance, to achieve the geographic and the sector balance required due to activity variation and markets of listing, targeting to acquire returns of not less than 15% in approximate.
Mr. Al-Quraishi added, Bayan Investment Company seeks always to offer its clients a variety of new products and services in order to give them the opportunity to grow their investments and in direction with the international and gulf markets where trading and innovating new investment financial tools within a legitimate Islamic frame is demanded.