Shamil Bank, a leading Bahrain-based Islamic commercial bank and a wholly-owned subsidiary of Ithmaar Bank, has recently structured a one year Sharia compliant multi-asset investment fund with an attractive return on investment.

Brooke Borden Assistant General Manager, Investment Banking

The private placement of the Shamil Solid Return Fund, which is registered with the Central Bank of Bahrain, would continue till the end of October 2009.

Brooke Borden, Shamil Bank’s Assistant General Manager, Investment Banking said the Fund was designed specifically for expert investors who would like to diversify their investments in the current market environment.

“The Shamil Solid Return Fund is an innovative Sharia compliant investment product that provides Investors with exposure to a diversified basket of four Islamic asset classes, namely Islamic equities, Sukuk, Modaraba investments and Crude Oil for a period of one year” said Borden.

“We have received great interest from expert and sophisticated investors who understand the risk and rewards associated with this fund,” he said.

According to Borden, the Fund’s target capital is $25 million, and Ithmaar Bank will act as the private Placement Agent for the product.