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20 November 2019
ISLAMIC FINANCE

Noor Bank launches AED 646 million Rasmala Long Income Fund

The fund provides wide exposure to a portfolio of long-lease properties, aiming to generate regular income whilst preserving capital over time.

Noor Wealth & Rasmala Team/Supplied

by Kudakwashe Muzoriwa

Dubai-based Noor Bank has raised AED 646 million for the Rasmala Long Income Fund, the first Islamic finance instrument to invest in long-lease and ground-rent real estate markets in the UK and continental Europe.

Mufazzal Kajiji, the Head of Retail Banking at Noor Bank, said, “We are proud to introduce the Rasmala Long Income Fund in response to the demand for investment opportunities in the UK real estate market from a broad range of clients, especially those seeking long-term, sustainable investments.”

Over the years, the real estate markets in developed countries have served as an attractive investment hub for investors in the region.

The Shari’ah-compliant lender seeks to offer its clients an attractive proposition that follows an uncorrelated and market-neutral investment strategy, involving investment in premium international markets, such as the UK and Europe, added Renoy Kundukulam, the Head of Wealth Management at Noor Bank.

 


RELATED STORIES: Shari’ah-compliant Rasmala Long Income Fund Noor Bank

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