NEWS

Al-Tawfeek launches Shari'ah compliant GCC Equity Fund

Haya Rashed Al Khalifa Law Firm acted on behalf of Al-Tawfeek Company For Investment Funds Ltd., a member of the Dallah AlBaraka Group, one of the leading providers of Shari'ah compliant investment funds in the region, in the creation of the Al-Tawfeek Gulf Equity Fund (the 'Fund'). This Fund is an open-ended investment fund, incorporated in the Kingdom of Bahrain and regulated by the Bahrain Monetary Agency (BMA), that offers an investors an opportunity to invest in the GCC equity markets.

The BMA approved the Fund on 1 June 2005. The Fund, which was consequently launched on 15 June 2005, is an open-ended with a target capital of US$ 100 million and will actively invest in listed and unlisted Shari'ah compliant equity and equity related securities in the GCC countries.

The HRAKLF team was headed by Arash Saidi, the firms specialist in Collective Investment Schemes and Funds.

Details about Al-Tawfeek and the Fund can be found here.

Further information can be obtained from Arash Saidi at a.saidi@hraklf.com  or by telephone on (+973) 17 537771.