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Kuwaiti firm launches Islamic trade finance fund

Posted on 07 May 2013

Kuwait-based Asiya Investments has launched an Islamic trade finance fund with $20 million in seed capital, aiming to cater to small Asian manufacturers. Asiya, whose largest shareholder is sovereign wealth fund Kuwait Investment Authority, aims to fill a gap left by Western banks that are scaling back their trade finance business, making credit scarce for small and medium-sized firms.
“We engage those companies that are already banked but whose credit lines are limited - we are complementing their financing,” said Sulaiman Alireza, executive director of Asiya’s investment management arm in Hong Kong………………………………………..Full Article: Source

 
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