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Gulf Finance House, Kuwait Finance & Investment Company, Qatar Islamic Bank Partner for US$600 million Islamic GCC Equity Fund

January 2007

Haya Rashed Al Khalifa Law Firm acted as lead legal advisor to leading regional financial institutions, Gulf Finance House B.S.C. (GFH), Kuwait Finance and Investment Company (KFIC) and Qatar Islamic Bank (QIB) who together launched the US $400 million Al Basha’er GCC Equity Fund - an Islamic equity fund offering investors an opportunity to take part in the surging growth of the region’s capital markets.

The Fund, which offers monthly subscriptions and redemptions, will be under the supervision of the Bahrain Monetary Agency (BMA) and will adhere to all Mutual Funds related rules and regulations. The Fund will be jointly managed by GFH and KFIC, investing selectively in stocks of listed as well as unlisted Shari’a-compliant companies in the region.

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