Saudi Arabia's NCB launches new Fund
The National Commercial Bank (NCB) has launched its “Al Ahli 3-year Murabaha Fund A”, a closed-ended medium term fund, which is approved by the Shariah Supervisory Council.
According to Arab News, the debut of “Ahli 3-year Murabaha Fund A” is part of the NCB strategy to provide unique investment opportunities for its clients.
These types of funds make it easier to invest, as well as provide a variety of funds to suit the diverse goals of the investors and increase their overall returns.
The fund lasts three years and is special due to its accumulation of competitive earnings. It is estimated to bring in an annual net worth ranging from 3.75 percent to 4.10 percent.
NCB also announced earlier that its first-half net profit rose 16.8 percent to SR1.75 billion ($466.7 million). (menareport.com)
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