Adcorp, the first Islamic financial institution of the fifth category, operating in the Abu Dhabi Global Market, announced a positive performance during its first operating year 2018. The company’s board of directors agreed in its meeting held On March 26, 2019, on the results of Fiscal Year 2018, he also approved the launch of two Shari’a compliant financing funds for the year 2019, namely the Mutual Fund for Global Equities and the Private Technology Equity Fund.
After AdCorp succeeded in raising more than $ 100 million in funds in January 2018, the company was able to invest and allocate a large share of this amount in granting financing facilities with attractive returns that exceeded expectations. As part of its endeavor to enhance its presence in the field of investments that comply with the provisions of Islamic law, which are growing in growth, the company signed a memorandum of understanding during 2018 with a number of financial institutions and established an administrative team of distinguished skills and a board of directors with high experience.
The company seeks to expand its business in 2019 by launching two Sharia-compliant financing funds, namely the Global Equity Mutual Fund and the Private Technology Equity Fund, which will work to meet regional and global needs at the level of compatible investments With the provisions of Islamic Sharia.
Analysis predicts that global financial assets compliant with Islamic Sharia will rise to $ 3.8 trillion by 2022, compared to $ 2.2 trillion in 2016, and the Gulf Cooperation Council countries will play a major role in driving this growth pace. p>
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