AC Ventures, the venture capital arm of professional services firm Andersen Consulting, and the Saudi Rasmala investment fund announced the launch of an Internet portal for investments in Islamic financial products.
The new portal, Ihilal.com, would start offering a variety of Islamic financial products and services starting in the first quarter of 2001. The portal’s chairman said the plan is to offer dedicated global distribution of third party Islamic financial products that have so far been unavailable to Muslim investors on a global basis.
The Rasmala fund owns an 83 percent stake in Ihilal.com and AC Ventures holds the other 17 percent. ¯ ( Lebanon Invest )