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London bank launches key Sharia fund

Posted on 27 June 2011

Nigel DenisonBank of London and the Middle East (BLME) has announced the launch of a Sharia-compliant fund which targets institutional and high net-worth investors in Gulf countries.
The BLME High Yield Fund targets a net return of three-month US dollar Libor (London Interbank Offered Rate) in addition to a five per cent return p.a. by investing 85 per cent in sukuk and 15 per cent in Ijara, said a statement from the London bank………………………………………..Full Article: Source

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