GFH LINKS WITH MUHANNA TO LAUNCH ISLAMIC SOCIAL INSURANCE FUND

Bahrain-based investment bank Gulf Finance House (GFH) has linked with Lebanese actuarial consultancy Muhanna Foundation to launch an Islamic fund as an investment vehicle for Middle Eastern pension and social insurance funds. According to GFH chief executive Issan Janahi, the firm is considering “a family of funds with a total size of between $5bn and $10bn, in tranches of $1bn a year which will be invested in a balanced Sharia-compliant portfolio of incoming-generating asset classes with varying levels of risk”. Mr Janahi added that there was “tremendous enthusiasm for Islamic investment instruments in the Middle East”.