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UNB launches Islamic fund
- United Arab Emirates: Sunday, May 18 - 2008 at 11:41
Union National Bank has launched the Shariah compliant Al Samaha Islamic Fund. Investing mainly in the UAE, but with the flexibility for wider regional investments, it will focus on Islamic equities and other Shariah investment instruments. The fund has been approved by the UAE Central Bank and is open-ended with weekly liquidity. Minimum subscription is Dhs10,000 and thereafter in multiples of Dhs1,000. There are no restrictions on who can invest in the fund. Subscriptions start today, running until 11/6/2008.
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StaffSunday, May 18 - 2008 at 11:41 UAE local time (GMT+4)
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