HSBC launches $100m Amanah Sukuk Fund

HSBC yesterday launched $100 million (Dh367m) HSBC Amanah Sukuk Fund in the UAE, offering mid to high single digit returns to investors, the bank said yesterday.

In a reply to Emirates Business, the bank said it's confident of raising the required fund because "interest in sukuk among investors is high."

Targeted at the UAE retail investors, the fund will deliver a competitive income in addition to capital appreciation from a select number of regional and international sukuk. The fund will be closed on July 14, 2009.