Watani USD Money Market Fund According to Islamic Shariah Principles II
The fund seeks to achieve competitive returns by investing in short and medium-term financial instruments that are compliant with the Islamic Shariah and are available in the financial market, such as the instruments arising from murabaha operations (involvement in this activity does not result in any direct or indirect financing).
The fund may invest in other investment funds whose investment objectives are similar to those of the Fund and that are compliant with the Islamic Shariah to the extent that they do not conflict with the investment methods and policies specified in Articles of Association. All the instruments in which the fund will invest in should comply with the provisions of Islamic Shariah as determined by the Fund’s External Shariah Audit Office. The fund will seek to maximize its net asset value while maintaining a high level of liquidity by investing in high-quality instruments. The instruments in which the fund will invest in are denominated in US Dollars. The fund has the right to invest in instruments denominated in other currencies.
Investment Features
01
Potential returns higher than Fixed Deposits
02
Easy weekly access to your money
03
High-quality money market instruments
Overview
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Fund Structure
Open-ended
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Asset Class
Money Market
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Liquidity
Weekly
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Inception Date
13 July 2015
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Management Team - Watani USD Money Market Fund According to Islamic Shariah Principles II