BIMB Investment Launches “BIMB Shariah IncomePlus Fund”

BIMB Investment Management (BIMB Investment) launched the “BIMB Shariah IncomePlus Fund” (BSIF), a new wholesale Islamic fixed income fund.

According to Mohamed Ridza Mohamed Abdulla, the Chairman of BIMB Investment, BSIF seeks to provide sophisticated investors with a low-risk investment portfolio whilst providing a frequent return in the form of cash or additional units. Abdulla also noted that the BSIF will offer a higher rate than traditional term deposits and will also be exempted from tax.

Abdulla added that 70-90% of the fund will be invested in cash instruments with the remainder invested in Sukuk. BIMB Investment’s Chief Executive Officer (CEO), Najmuddin M...