Waha Capital Launches Shariah-Compliant Income Fund Expected to Raise USD 500 Million

Waha Capital, a financing company based in Abu Dhabi, United Arab Emirates, has launched a new Shariah-compliant open-ended income-generating fund expected to attract more than USD 500 million (AED 1.83 billion). The new fund, titled ‘Waha Islamic Income Fund SP’ will invest in Shariah-compliant assets in the global Sukuk and equity markets, Waha Capital said in a recent statement.

Chief Executive Officer of Waha Capital, Amr Al Menhali stated that although the company's existing funds had Shariah-compliant elements, the steadily increasing demand for fully Shariah-compliant Islamic financial products had prompted the development of the new fund.

The Islamic financial ind...