An Islamic Sovereign Wealth Fund of the GCC states that would focus on high-priority, capital deficit sectors is the need of the hour, a leading banker has said. Bahrain-based Shariah-compliant Khaleeji Commercial Bank (KHCB)’s Chairman Dr. Fuad Al Omar told DT that such a fund would not only be helpful to banks and financial institutions by providing them financial cushioning but also boost domestic industries growth through capital injection.
“The surplus revenue available due to the boom in oil prices needs to be mobilised in the form of capital for asset development,” he added………………………………………..Full Article: Source