GFH announces launch of new $100m sukuk fund – ArabianBusiness
- Date: 20-Feb-2022
- Source: Arabian Business
- Sector:Financial Markets
- Country:Middle East
GFH announces launch of new $100m sukuk fund – ArabianBusiness
GFH Financial Group announced Saturday that it had launched and seeded a new $100m sukuk fund which will hold a diversified portfolio of sukuk from across Gulf Cooperation Council (GCC) countries.
The announcement comes following the signing of an agreement with Credit Suisse to provide financing and fund administration services.
“The market is becoming more buoyant as economies in the GCC recover amid a revival of key sectors. Global borrowers have issued more than $23 billion of sharia-compliant debt in 2021 and global sukuk supply is expected to accelerate in 2022. The GFH Sukuk Fund aims to capitalise on post-pandemic economic growth and recovery,” Salem Patel, Head of Asset Management at GFH, said in a statement.
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