National Bank of Kuwait (NBK) has launched Islamic KD Ijara Fund III – reported AME Info. Reportedly, this Fund is the third edition of its Islamic Ijara KD series and is offered due to the over-whelming success of the Islamic KD Ijara Funds I & II, which were fully subscribed within days.
NBK has said that the Fund is denominated in Kuwaiti Dinars. Minimum investment in the Fund is KD30,000 with multiples of KD10,000. The Fund offers private banking clients an investment product that generates reliable monthly income throughout the Fund’s term and will continue to boost NBK’s status as a financial institution that offers Islamic investment solutions in the local and regional markets.
Nabil Maroof, MD of asset management, NBK Capital, said: “The Islamic KD Ijara Fund III was launched owing to the success of previous NBK Ijara funds, and specifically the Islamic KD Ijara Fund I & II, which provide reliable monthly returns and relatively low risk. The Fund was created to grant NBK Private Banking clients the opportunity to invest in a diversified portfolio of leasing contracts that are structured according to the principles of Islamic Shariah.”
