03.02.2011 - Kenya: Sharia-compliant unit trust fund is launched
From Businessdailyafrica.com: First Community Bank (FCB) has introduced an Islamic-compliant unit trust underlining the growing list of Islamic products targeting the Muslim market. The firm has received approval from the Capital Markets Authority (CMA) to rollout the fund, which will make selective investments in equities, government bonds and real estate options that are Sharia-compliant. The new unit trust fund adds to the Islamic banking, insurance services, food, medicine and hospitality products launched in the country in the past few years by firms like FCB, Gulf African Bank and Takaful Insurance of Africa..............................................Full Article: Source
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