Posted on January 18, 2016

Amwal LLC, Qatar’s leading independent asset management firm, has been appointed Fund Manager for the Al-Beit Al Mali Fund founded by Investment House for investing in listed equities in Qatar, in line with the Islamic principles.

Regulated by the Qatar Central Bank, the fund’s objective is to achieve capital appreciation for its investors by investing in Sharia-compliant companies listed on the Qatar Exchange. The Al-Beit Al Mali fund is open only to private and institutional investors, and will offer the prospect of strong growth and long term investment returns through investing in equities in Qatar. Since its inception in 2006, the Fund delivered a total return of 106.8%. In 2015, Al Beit Al Mali Fund was ranked 1st in Qatar for Qatari listed equity funds domiciled in Qatar and was ranked 3rd in the Gulf Cooperation Council (GCC) among top 20 GCC Islamic Equity funds (source. Marmore Mena Intelligence).

Fahmi Alghussein, CEO of Amwal, said, “Amwal is committed to providing our clients with the most lucrative investment options available within Qatar and the region. The global Islamic finance industry has witnessed a remarkable growth trajectory in the past decade and is estimated to grow by an average of 19 percent per year till 2018. Islamic economic principles play a growing significance in today’s global business environment, and we believe that it can offer more long-term solutions to drive both growth and sustainability. We have the resources and expertise in sharia-compliant services, and look forward to working with Investment House to further support the development of a much stronger platform for Islamic finance in Qatar.”

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Mr. Hashem Al-Aqeel, CEO of Investment House, said, “Islamic finance has growing demand in Qatar and the region, and Qatar was one of the first countries in the world to identify the significance of Islamic banking. The country has a best-in-class sharia- compliant regulatory framework in place to build a global centre for Islamic economy, and maintain the growth momentum of the industry. Despite the declining current oil prices, we believe that the macro economic outlook for Qatar on the medium and long term is positive and promising, with planned investments across diverse business sectors. We are delighted to have Amwal on board as Fund Managers and are confident their firm understanding of the market.

Mr. Mohamad El Masri, Chief Investment Officer at Investment House, said: ”Amwal’s appointment to manage Al Beit Al Mali Fund came after a thourough screening and selection process. Amwal has one of the longest track records in Qatar for managing Qatari listed equities. We will leverage on their expertise and understanding of the market and make sure to deliver the best performance to our investors”