Emirates NBD to launch Jersey-domiciled fund
From Middle East Mar 30 2010 BY: Simon Danaher
, Online News Editor
, International Adviser
Middle East banking group Emirates NBD is to launch a Jersey-domiciled money market fund.
The Emirates Islamic Money Market Fund will be fully Sharia-compliant and will be available in an open-ended structure offering investors daily dealing.
Emirates NBD Group is the biggest banking group in the Middle East with assets at the end of December last year of Dhs281.6bn with a market share of 20.5%. It currently has operations across the Middle East as well as in the United Kingdom and Jersey, and representative offices in India, Iran and Singapore.