By IINA
Dubai : Emirates Islamic Bank has announced the launch of the Jawhara Greens RIA Fund, the latest in a growing portfolio of funds launched by the bank to help its investors enter growing property markets around the world. The Jawhara fund is designed to help investors capitalize on the emergent real estate sector in Qatar, one of the fastest growing real estate markets in the GCC. The Restricted Mudarabah Investment fund is open to all and the RIA commences on April 15 and the offering amount of the close-ended Mudarabah Fund has an upper limit of 276 million Dirhams with the Bank co-investing its own proprietary money in the fund to the tune of 183 million Dirhams.
Qatar is on par with the best in the world when it comes to having a solid foundation for growth, and is progressing at a rapid pace” said Faisal Aqil, General Manager retail banking of Emirates Islamic Bank. “Real estate is a sector which will be one of the first beneficiaries of progress, as the demand for living in a developing nation is always on the rise. We want our investors to capitalize on this boom, and the Jawhara Fund is the perfect window of opportunity for them”he added. The expected investment term of the fund is 24 months from the date of commencement, with an option to extend by an additional 12 months. The fund’s profit sharing ratio is 75% in favor of the applicant, with the Bank’s share being 25%.