NIGERIA: Emerging Africa Asset Management, the portfolio management subsidiary of Emerging Africa Group based in Nigeria, has launched Emerging Africa Halal Fund, an open-ended mutual fund that invests in Shariah compliant financial instruments including Nigerian sovereign Sukuk facilities, corporate Sukuk and asset-backed investments. Uninvested funds are held in non-interest-bearing accounts or near-cash Shariah compliant securities, the company said.
The Islamic fund is worth NGN1 billion (US$617,962), THISDAY reported.
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