MANAMA, 3 August 2006 — The Bahrain Monetary Agency (BMA) has authorized an Islamic equity fund, sponsored by leading Kuwait-based asset management firm, Global Investment House (Global). The Global GCC Islamic Fund aims to raise $300 million for investment in a portfolio of Shariah-compliant companies in the GCC region. The Bahrain-domiciled, dollar-denominated open-ended fund, is the 23rd fund to be incorporated in Bahrain by Global, a leading asset management firm in the Middle East region.
SHUAA Capital Posts AED2m Profit
Arab News
DUBAI — SHUAA Capital has reported a net profit of AED2 million for the first quarter of 2006, which is marked by negative returns from financial investments. The financial quarter highlights are: Net operating revenues declined to AED28 million from AED89 million in the last quarter, net operating profit is AED17.4 million compared to AED70.5 million.
