NBK's new fund to give 6.25% returns

The National Bank of Kuwait (NBK) announced yesterday the launch of its "Islamic KD Ijara Fund II", which will offer 6.25 per cent to investors throughout the fund's term.

The fund is the 18th edition of the Islamic Ijara funds and the second from the Kuwaiti Dinar series.

The bank said the second edition follows the launch of the overwhelming success of the first edition, which was launched in June and was fully subscribed. NBK Capital's Managing Director of Asset Management, Nabil Maroof, said the fund provides reliable monthly returns and relatively low risk.