05.12.2011 - Kenya set for first IF fund
Kenya's FCB Capital, a subsidiary of the First Community Bank, will launch the country's first fully Shari'ah compliant investment fund, the First Ethical Opportunity fund, in January. The fund has been licensed by the Capital Markets Authority and "it will be an open-ended fund that will be available to retail and institutional investors," said MD of FCB Capital, Antony Wambura. Each unit will be priced at $20, with a minimum investment of 10 units..............................................Full Article: Source
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