Noor Bank & Azimut MoU signing/Supplied
The fixed maturity fund (FMP) that will mature in four years is set to provide an income of five per cent per annum through investing in a professionally managed Sukuk portfolio.
Sunday 07, July 2019 BY KUDAKWASHE MUZORIWA
Noor Bank has partnered with Azimut to launch US-dollar Islamic fixed maturity plan (FMP) in the UAE under a Dubai International Financial Centre (DIFC) domiciliation.
Mufazzal Kajiji, the Head of Retail Banking at Noor Bank, said, “The launch of this four-year FMP reaffirms our commitment to creating diverse investment opportunities for our high-net-worth customers.”
“Azimut is one of the very few international asset managers that operates locally out of DIFC, designing and launching tailor-made investment solutions for Middle East investors,” added Giorgio Medda, Azimut Group’s Co-CEO and Head of MENAT.
Azimut is an asset management company regulated by the Dubai Financial Services Authority (DFSA) and a full subsidiary of Azimut Group Holding, a leading European independent asset manager.