Mahal Thqa is a joint venture between Middle Eastern financial consultants Mondial and US-based venture capital organisation Shariah Capital.
The firm will be lead by chief executive Sadi Hassouneh and will focus on the Middle East’s Arabic-speaking population.
He said his firm aims to offer “independent, best of breed” Islamic investment solutions and fund alternatives.
Board member and active adviser to Thqa, Sean Kelleher, said: “Thqa’s investment approach will be based on protecting and growing its client’s capital over the medium-to-long-term and seeks to avoid the “boom-and-bust” results associated with specific asset class risk.
“We know that Thqa will need to prove itself by managing investor expectations into growing capital steadily through diversified and risk-adjusted asset allocation strategies.
“At a time when UAE property and MENA equities are on a surge this will be difficult.”
Shariah Capital focuses on cross border investments focused on Shariah compliant asset management space.
Mondial has been operating as a financial planning and wealth management organisation in the UAE since 1988. It manages in excess of $1b for 8,000 clients.
