Saturday 17, May 2008 by
Union National Bank launches first Islamic mutual fund
Union National Bank (UNB) is launching the Al Samaha Islamic Fund, a Shari’ah compliant fund which will invest mainly in the UAE, although it will have the flexibility to seek opportunities in other GCC, MENA and other emerging equity markets. The banks said that the fund will aim to invest in a balanced portfolio compliant with the Shari’ah creating a growth in the capital both in the short and long term.
