SAUDI ARABIA: NCB Capital, which recently launched two Shariah compliant Undertakings for Collective Investment in Transferable Securities (UCITS) funds in Ireland, is looking to launch more of such offerings in the next 18 months, including Shariah compliant equity and Sukuk funds.
Faysal Badran, its chief investment officer and head of asset management, said in a Reuters interview that the Sukuk fund could materialize quicker with favorable Sukuk issuance conditions.
NCB Capital is the fund manager of both of its Ireland-domiciled funds, the NCB Capital Saudi Arabian Equity Fund and NCB Capital GCC Equity Fund, which are marketed by global asset manager Amundi.