- City Fajr Shuruq Duhr Asr Magrib Isha
- Dubai 04:07 05:29 12:18 15:42 19:01 20:24
The fund is the 18th edition of the Islamic Ijara funds and the second from the Kuwaiti Dinar series. (AFP)
The National Bank of Kuwait (NBK) announced yesterday the launch of its "Islamic KD Ijara Fund II", which will offer 6.25 per cent to investors throughout the fund's term.
The fund is the 18th edition of the Islamic Ijara funds and the second from the Kuwaiti Dinar series.
The bank said the second edition follows the launch of the overwhelming success of the first edition, which was launched in June and was fully subscribed. NBK Capital's Managing Director of Asset Management, Nabil Maroof, said the fund provides reliable monthly returns and relatively low risk.
The fund offers opportunity to invest in a diversified portfolio of leasing contracts that are structured according to Islamic principles. These contracts involve the leasing of various types of equipment including manufacturing, IT hardware, construction materials, telecommunication equipment and networking equipment.
The fund is denominated in Kuwaiti dinars with the minimum investment is KD30,000 (Dh384,943) with multiples of KD10,000. The fund's term is five years with possible one year extensions.
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