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Sovereign Wealth Funds Briefing - Categorized | Investment

Public Investment Fund to fund home finance company’s capital

Posted on 11 February 2010

From Albawaba.com: The Public Inestment Fund (PIF) issued its approval to contribute 20 percent of the new home finance company’s total capital of SAR 2 billion. This represents the single largest investment in a mortgage company in the history of PIF.
The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, is currently attracting founding sponsors for the new home financing company and are scheduled to close remaining investment by end of February 2010………………………………….Full Article: Source

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