Shariah Compliant Industry growth in Pakistan

Shariah Compliant Industry growth in Pakistan

KARACHI: (APP) Speakers at an awareness session on Shariah Compliant Investment have said the Islamic Funds Industry has shown impressive growth in recent years.

The moot was hosted by Al-Ameen Funds, managed by UBL Fund Managers Limited, in collaboration with Pakistan Stock Exchange Limited (PSX), said a statement here Saturday.

Speaking on the occasion, Yasir Qadri, CEO UBL Funds said that the local investors are more aware about the equity market than ever before.

However, Islamic funds offer opportunities of investment for a vast audience which is yet to be tapped.

Al-Ameen Funds currently has the second highest market share in the Islamic Funds' industry .

We continue to retain and grow its market share in Islamic Funds by delivering superior fund performance in existing funds and by introducing new funds that cater to investor needs which are yet unfulfilled, he said.

He pointed out that the UBL Funds is also the pioneer in launch of CPPI-based Funds based on an internationally-renowned strategy in Pakistan which have promoted the culture of stock market investing in Pakistan by delivering competitive returns through investment in stocks while following a strategy to preserve the principal investment over an investment period of two years.

The introduction and performance of these funds has played an important role in strengthening and enhancing the image and market share of UBL Funds.

Shahid Gul Motiwala, CEO Al-Ameen Islamic Financial Services (Private) Limited said that there is a lot of awareness required in Pakistan regarding the benefits of making sound investment choices.

Platforms like these give people the opportunity to realize that investing is an excellent avenue for potential growth of one's wealth through a shariah compliant manner.