• Oman

    • First Islamic Investment Fund launched in Oman

    By on November 21, 2023

    Muscat: The Imam Jabir bin Zaid Waqf Foundation launched the ‘Gheras Endowment Investment Fund’ today, with the aim of creating a conducive investment environment for endowments.

    Held under the patronage of Sheikh Abdullah Salim Al Salmi, Executive President of the Capital Market Authority, the ceremony saw the attendance of dignitaries, senior officials, esteemed members of the board of directors and individuals with a keen interest in endowments.

    The establishment of Gheras Endowment Investment Fund aims to simplify investment operations by creating a platform that consolidates all endowments. It is based on the principles of Islamic Sharia, governance, and complete transparency.

    Commenting on the launch of the visual identity of the Gheras Endowment Investment Fund, Eng. Younis Khamis Al Suli, Acting CEO of Imam Jabir bin Zaid Waqf Foundation, stated, “The fund reflects the foundation’s mission to promote the principle of endowment and community partnership by creating investment products aimed at diversifying income sources and achieving financial sustainability. This aligns with the general aspirations of endowments and the specific goals of those under endowment beneficiaries.” He added, “The fund is in line with Oman Vision 2040 and contributes to meeting societal needs and supporting the non-profit sector in the national economy.”

    The Gheras Endowment Investment Fund, structured as an open-ended endowment fund offered through a special subscription, aims to distribute a permanent income from the net returns of the fund for the benefit of investors. The fund also allows for efficient portfolio diversification, serving the interests of the endowment, the endower, and the benefiting entity through investments in various assets.

    It is worth mentioning that the Gheras Endowment Investment Fund reflects the principle of endowment partnership, providing an opportunity for other endowments to invest. The fund is characterized by a sound legal framework in accordance with the principles of Islamic Sharia. It will allow for income diversification and contribute to achieving financial sustainability for endowment assets.   -ONA

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