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1 billion US Dolllar Fund to be Introduced

Qatar : 01 March 2010

One of the leading Islamic banks in Qatar, Masraf Al rayan (MAR) will introduce Al Rayan GCC Fund for one billion US Dollar.

Al Rayan Investment LLC has been appointed as fund manager of the Sharia-compliant Al Rayan GCC Fund, by MAR to go-ahead to supervise finances up to 1 billion US Dollars.

A wholly-owned subsidiary of Masraf Al rayan, Al Rayan Investment was founded in 2007 and has been authorized by the Qatar Financial Centre as the financial and investment advisory body of Masraf Al rayan.

Al Rayan GCC Fund will invest in fixed-income and money-market instruments as well as in DCC listed equities.

Chairman and Managing Director of Masraf Al Rayan, Dr Hussain Ali Al Abdulla said that he is very optimistic about the progress of region’s capital markets and GCC economics due to rapid growth of the private sector and government sponsored investment.  Valuations are too attractive to ignore. To explore region’s huge potentials, this is the most appropriate time to start a fund. GCC and international Investors will be lured by the Fund’s investment philosophy.

Chief Executive Officer of Masraf Al rayan, Adel Mustafawi said that they are upbeat for the future of GCC economies and will therefore inject huge seed capital to the Fund. For Al Rayan Investment, they have chosen a first class fund manager with vast experience of local and international market. They will fully concentrate on providing products and services to Masraf Al rayan clients.

Director of Al Rayan Investment LLC, Abdulaziz Al Muftah said that their dedication and loyalty to customers is exceptional and they will try their level best to satisfy investors of the GCC Fund. They are thankful that their dedication and hard work has been rewarded by their customers. They are proud of being selected as the Fund manager with colossal amount of money at rheir disposal. They will leave no stone unturned to progressively build one of the region’s leaders of financial and investment advisory houses.

Paul Holdsworth, Staff Writer, Gulf Jobs Market News
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