Latest news with #Shariah-Compliant
Al Bawaba
27-04-2025
- Business
- Al Bawaba
KIB Invest Launches Islamic KD Money Market Fund
Al Dawli Invest Investment Company (KIB Invest), a leading firm in Shariah-Compliant investments, is pleased to announce the launch of its inaugural investment product, the Al Dawli Invest Islamic KD Money Market Fund. This marks a significant milestone as the first fund under the KIB Invest entity, showcasing the firm's commitment to delivering Shariah-Compliant investment solutions to its Al Dawli Invest Islamic KD Money Market Fund is specifically designed for investors seeking a secure and liquid investment option. By investing in highly liquid short- and medium-term Islamic money market instruments, the Fund aims to deliver competitive returns while ensuring full compliance with Islamic Shariah principles. Investors benefit from flexible access to their funds through weekly liquidity, offering convenience and control. With a focus on capital preservation, the Fund safeguards investor capital while generating consistent addition to its strong performance potential, the Fund features a highly competitive fee structure. With no subscription or redemption fees, it minimizes costs for investors, making it an attractive and affordable choice. This cost-effective approach ensures that more of the returns remain with the investors, enhancing the overall value proposition. Designed to offer returns comparable to Islamic deposit products, the Fund also provides the added advantage of enhanced liquidity.'We are proud to launch the Al Dawli Invest Islamic KD Money Market Fund, which represents a significant step forward for KIB Invest as we establish ourselves as a trusted partner for Islamic investments,' said Jamal Al Barrak, CEO of KIB Invest. 'This Fund reflects our commitment to aligning our clients' investment goals with their values, offering a secure and Shariah-compliant vehicle to manage their capital while benefiting from competitive returns and unmatched flexibility. Looking ahead, we are eager to introduce further products with varying return and risk profiles, catering to clients seeking higher growth opportunities and further broadening the investment universe available to them.'As part of its strategic vision, KIB Invest is dedicated to expanding the investment universe for the group's clients. The launch of the Al Dawli Invest Islamic KD Money Market Fund is supported by a robust Fund Executive Committee, composed of experienced professionals committed to delivering value and maintaining the highest standards of governance and performance. Islamic money market instruments present an attractive return profile, closely resembling the returns of traditional deposits while providing enhanced flexibility through liquidity. This makes the Al Dawli Invest Islamic KD Money Market Fund an ideal choice for investors seeking stability, compliance, and accessibility.
Express Tribune
05-04-2025
- Business
- Express Tribune
SBP pumps nearly Rs3 trillion into market
Listen to article The State Bank of Pakistan (SBP) has conducted Open Market Operations (OMO), injecting approximately Rs2.94 trillion into the banking system. This liquidity injection comprised two separate operations, both with a seven-day tenor. The larger portion, Rs2.4 trillion, was injected through a conventional Reverse Repo Purchase operation, accepting all 22 quotes at a rate of 12.07% per annum. Additionally, the SBP conducted a Shariah-Compliant Mudarabah-Based OMO injection, accepting all 10 quotes for Rs5.6 billion at 12.09% per annum. The Pakistani rupee posted a slight gain against the US dollar on Friday, appreciating by 0.03% in the interbank market. By the end of the trading session, the local currency closed at 280.47, registering an increase of nine paisas from the previous day's close of 280.56. Globally, the US dollar struggled to recover, while the yen, a safe-haven asset, hovered near a six-month high on Friday. This came as markets reacted to the economic implications of President Donald Trump's newly introduced tariffs. Zafar Paracha, President of the Exchange Companies Association of Pakistan, noted that record corporate profits and repatriations by banks and multinationals are putting pressure on the rupee. Due to the passing of a central member's son, gold prices in Pakistan were not released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). However, the gold market has been experiencing significant fluctuations. Internationally, gold prices fell nearly 2% on Friday as traders liquidated their bullion positions following wider market sell-offs after China retaliated with fresh tariffs against Trump's sweeping levies. Spot gold was down 1.9% at $3,053.98 an ounce after hitting a record high of $3,167.57 on Thursday. US gold futures declined 1.6% to $3,072.10. Analysts said investors were selling gold to cover losses in other asset classes prompted by margin calls. The Pakistani gold market saw a sharp price correction today following several days of strong gains, according to Adnan Agar, Director at Interactive Commodities. Agar reported that gold reached a high of $3,136 before falling to a low of $3,026. By his analysis, the market was hovering around $3,032. He attributed the broader instability to global factors, particularly Trump's trade tariffs. Heavy selling pressure was observed in the market over the past two days. "The faster it went up, the faster it's likely to come down," Agar said, as the market remains in a lowered position following the correction.
