LOC17:59
14:59 GMT
KUWAIT, Aug 2 (KUNA) -- Kuwait Finance House (KFH)-Turkey said it has
listed a new fund for investment in gold at the Istanbul stock exchange
following a short subscription period.
Chairman of KFH-Turkey Mohammed Al-Omar said in a release it is the first
fund of its kind to be launched by an Islamic bank, where companies and
individuals inside and outside Turkey are to be given access.
This will provide a swift cash liquidity to investors, and enable them to
enjoy hikes in gold prices, he said.
The registration of the fund with the Istanbul bourse following the
subscription shows the ability of the KFH, also known as Baitak, to offer
fresh financial products that match the Islamic Sharia or law, he added.
The move will also meet growing demand for Sharia-compliant products in
Turkey, he said.
Al-Omar boasted that KFH is the first Islamic bank to have an investment
fund listed at the Istanbul bourse. (end)
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