First Shariah-compliant ship fund launches

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13 November 2009

Qatari investment bank QInvest and Fortis Bank Nederland have launched the world’s first Shariah-compliant ship financing fund.

QInvest and Fortis Bank Nederland have signed a joint venture agreement with each committing $50 million to the QInvest-Fortis Bank Nederland Shipping Fund, making it the world’s first Shariah-compliant ship financing fund.

Jointly managed by QInvest and Fortis Bank Nederland through QF Investment Management, the fund will soon be opened to third party subscriptions.

The fund is a Shariah compliant investment solution which QInvest, the Qatari investment bank, brings to its investor base in the GCC region, and demonstrates QInvest’s...

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