Investment Vision launches Shari'a Compliant GCC Equity Fund in Sultanate of Oman
- Oman: Monday, February 11 - 2013 at 14:45
- PRESS RELEASE
Investment Vision, a premier investment company offering wide array of Asset Management and Trading services has announced the launch of the first ever Shari'a Compliant GCC Equity Fund in the Sultanate of Oman.
The Shari'a Compliance function in the face of Corporate demands and innovational development face a series of occupying challenges presented by lack of qualified Shari'a experts, and undersized Shari'a skill resources and since the development and assurance of Shari'a Compliancy is expedient from the instigation of a product idea to the engineering and completion of the framework and offering documents. Therefore, Investment Vision has outsourced the Shari'a scholarly role and appointed Shariyah Review Bureau, a global leader and pioneer of Shari'a Advisory and Shari'a Audit services, to assist and ensure that the GCC fund structure and related processes remain compliant to Shari'a guidelines at all times during the tenure of the fund. Commenting on the engagement Mr. Ammar said "Investment Vision was determined to put in place the best team of Shari'a expertise and talent in the Islamic industry and in this regard we are thrilled to announce our partnership with Shariyah Review Bureau who will strengthen, oversee and supervise our Fund Investment team."
Replying on the appointment Mr. Yasser Saud Dahlawi, CEO at Shariyah Review Bureau said, "We are delighted and very excited to be given this unique opportunity in Oman. Our extensive presence covering countries like KSA, Bahrain, Canada, France, Switzerland, UAE and Qatar and serving wide array of Shari'a compliant sectors have allowed us to collect, build and innovate our Shari'a advisory capabilities. In addition, and over the past three years, Shariyah Review Bureau has successfully emerged to be in the forefront heralded as the main driver of outsourcing Shari'a Board and related Supervisory functions. This strength of institutionalized Shari'a compliance, international knowledge and best practices is a key requirement, increasingly being demanded from Islamic Banks, Takaful firms and Islamic business clients. We look forward to leading Investment Vision Islamic fund practice and serving them in materializing their Shari'a compliant business growth strategies."
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