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Emirates NBD to launch Jersey-domiciled fund

Middle East banking group Emirates NBD is to launch a Jersey-domiciled money market fund.

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The Emirates Islamic Money Market Fund will be fully Sharia-compliant and will be available in an open-ended structure offering investors daily dealing.

Emirates NBD Group is the biggest banking group in the Middle East with assets at the end of December last year of Dhs281.6bn with a market share of 20.5%. It currently has operations across the Middle East as well as in the United Kingdom and Jersey, and representative offices in India, Iran and Singapore.
 

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