Meethaq joins hands with Azimut to promote Global Sukuk Fund in Oman

(MENAFN- Muscat Daily) Muscat- Meethaq, the Islamic banking window of Bank Muscat, announced that it has signed an exclusive partnership agreement with Italy head-quartered asset management company, Azimut Group to promote Global Sukuk Fund (GSF) in Oman.

The Luxembourg based GSF is one of the world's largest funds having interests in sukuk. The fund has around US$190mn assets under its management. GSF is currently being offered in a number of countries in Europe, Asia and Middle East through strategic partnerships with local financial institutions.

The agreement was signed by Sulaiman al Harthy, deputy CEO – Islamic banking at Bank Muscat and Sergio Albarelli, CEO of Azimut Group, at the Bank Muscat head office, a press release said.

'Meethaq is proud to join hands with Azimut to promote GSF, which is the first global sukuk fund to be offered in Oman. The partnership heralds niche Islamic investment products in Oman. It further consolidates the position of Meethaq as the pioneer of unique Islamic investment and wealth management product offerings in the sultanate,' Harthy said.

He said, 'The partnership between Meethaq and Azimut serves as an excellent opportunity to provide a superior investment experience, with a focus to help customers meet their evolving needs over the long term.'

'Meethaq recognises the immense prospects and potential that Oman offers as an investment destination and is committed to supporting strategic development initiatives in line with the country's Vision 2040 economic blueprint,' he added.

Azimut is one of the largest European asset management companies having over US$62.5bn assets under management and it has a global footprint with the presence in 17 countries.

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