The Central Bank of Bahrain (CBB) is seeing early success, following the introduction of a new regulatory framework to govern the collective investment undertakings (CIU) industry.
Three ‘Exempt’ CIUs, the first of their kind in Bahrain, have been registered with the CBB within three weeks since the new CIU rules came into effect from 1 June 2007. The new rules provide for the full range of investment funds, from the lower risk funds aimed at retail investors to the higher risk alternative investment vehicles. The new ‘Exempt’ CIUs are sponsored by Global Investment House, National Bank of Kuwait (NBK) and Naeem Holding Company for Investments. Global’s Global Real Estate Ijara Fund is a close-ended Islamic real estate fund, NBK’s NBK Institutional Access GCC Equit...
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