SAUDI ARABIA: Samba Capital, the subsidiary of Samba Financial Group, has launched an open-ended Islamic investment fund, Al Ataa Saudi Equities Fund.
The fund, which is aimed at achieving long-term capital growth in the kingdom’s Islamic equity market, comes with a regular cash dividend of up to 2.5% every six months or around 5% per year.
The fund has a minimum subscription of SAR5,000 (US$1,640) and a 45-day subscription period, which will end on the 18th July.