TradeArabia (Manama, Bahrain)

NBAD Launches Shariah Dividend Fund

The National Bank of Abu Dhabi (NBAD) has launched its NBAD Shariah Mena Dividend Leader Fund, which will invest in select dividend-paying companies traded on the most promising Mena equities markets.

The fund has been inspired by and modelled after NBAD Mena Dividend Leader Fund (MDL), said a statement.

Saleem Khokhar, head of equities at NBAD's Asset Management Group, said: "Inspired by the success of NBAD Mena Dividend Fund, we designed a comparable product for investors who are interested in Shari'a-compliant investment. The fund will allow investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients. …

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