Accord signed for corporate Islamic mutual funds

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) and UBL Fund Managers have entered into a corporate Islamic mutual funds agreement, a statement said on Monday.
According to the agreement, the bank will distribute UBL Fund Managers products under its dedicated brand Al Ameen funds to the DIBPL clients.
Speaking at the agreement signing ceremony, Junaid Ahmed CEO, DIBPL, said the strategic business alliance with Al Ameen Funds will improve DIBPLs market leading footprint and help further grow its share in Pakistan’s asset management industry.
Mir Muhammad Ali, CEO, UBL Fund Managers, said, “We see a huge potential for Shariah-compliant asset management solutions in Pakistan, and I am delighted to have DIBPL as our first Islamic banking partner for Islamic mutual funds.
Together we are offering best value Al Ameen Funds products to DIBPL customers that will help them in their long term financial planning needs.”