Oman: Ishraq Fund launched to drive sharia-compliant investments in Oman
Muscat – The Ishraq Endowment Fund on Wednesday officially commenced operations, marking the beginning of a new phase aimed at revitalising the investment role of waqf (endowment) in Oman.
This innovative, Sharia-compliant endowment investment fund represents a significant advancement in enhancing waqf investments in the sultanate. It contributes to embedding sustainable development principles and maximising the social impact of investments – both key pillars of Oman Vision 2040.
In a statement to Oman News Agency, Dr Ahmed Ali al Ka'abi, Chairman of the Ishraq Endowment Fund's Board of Directors, said that the operational launch represents a major milestone in the fund's journey. He emphasised that the next phase will involve activating investments in line with a strategic vision carefully crafted by the board.
He added that the fund is moving from the establishment phase to active operations by initiating investments in Sharia-compliant public markets. The goal is to generate sustainable financial returns that support charitable initiatives and social projects.
'The fund offers diverse opportunities for investors – both individuals and institutions – through a range of subscription categories, including perpetual endowers, temporary endowers, and investing subscribers.'
Khalid Awadh al Balushi, CEO of Oman National Investments Development Company (Tanmia) and Investment Manager of the Ishraq Endowment Fund, noted that this initiative continues Tanmia's pioneering role in establishing and managing high-quality investment funds. He described the fund as a practical embodiment of socially impactful investment and a strategic step forward in enhancing the waqf sector's contribution to the national economy.
Balushi added that the Ishraq Endowment Fund provides sustainable, Sharia-compliant investment opportunities that deliver tangible, positive societal outcomes, aligning with national priorities on sustainability and community partnership. Tanmia will draw upon its extensive expertise in fund management to ensure that the fund meets its objectives and achieves the desired returns.
The Ishraq Endowment Fund introduces an innovative model that combines financial returns with social impact. Through its investment returns, contributors can support social and developmental projects in sectors such as health, education, and social care, while also generating stable financial yields.
© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).
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