Qatar First Investment Bank (QFIB) and specialist regional asset manager Gulfmena Alternative Investments plan to set up a sharia-compliant asset management firm to tap into rising demand for Islamic investment products.
The new company will be majority owned by QFIB, while Gulfmena will manage the investments, the companies said in a joint statement on Monday.
'We believe there is tremendous opportunity given the growth prospects of the Shari'ah compliant financial sector,' said Haissam Arabi, chief executive of Dubai-based Gulfmena."
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