InvestGB launches Lulwa KD Money Market Fund according to Islamic Sharia principles
Bader AlAli: "The fund reflects Gulf Bank and InvestGB's commitment to meeting the banking and investment needs of clients."
Talal AlKhamis: "An ideal option for clients seeking a Sharia-compliant investment and a way to save their funds in deposits with weekly liquidity."
Kuwait City – Gulf Capital Investment Company, "InvestGB', the investment arm of Gulf Bank, has announced the launch of its first money market fund, the Lulwa KD Money Market Fund According to Islamic Shariah Principles. This launch reinforces the company's leading position in the investment sector, reaffirming its commitment to meeting the investment needs of its clients and providing competitive solutions aligned with their aspirations.
The Lulwa KD Money Market is managed by a skilled team of financial experts using the latest investment strategies. The fund provides a distinctive investment opportunity and offers an array of competitive advantages, including weekly flexible liquidity, enabling investors to manage their funds in a seamless manner. With a low minimum subscription amount of 1,000 Kuwaiti Dinars, the fund is accessible to a wide range of clients. It is designed to cater to clients seeking secure and stable investment opportunities with low risk. Clients can subscribe to the fund through Gulf Bank's branches, acting as the selling agent, or at InvestGB's headquarters in AlHamra Tower.
The announcement was made during a press conference attended by Mr. Hani AlAwadhi, Vice-Chairman and Chief Executive Officer at InvestGB, Mr. Bader Al-Ali, Acting General Manager of Consumer Banking at Gulf Bank, and Mr. Talal AlKhamis, Director of Regional Equities and Fixed Income at InvestGB.
Enhancing Investment Opportunities with Innovative and Accessible Options
During the press conference, Mr. AlAwadhi, stated: 'The launch of the Lulwa KD Money Market Fund is intended to provide exceptional investment opportunities for our clients, expand our investor base, and offer well-studied investment options tailored to their needs, goals, and expectations.' He highlighted that the fund's low subscription threshold of 1,000 Kuwaiti Dinars makes it a distinctive investment opportunity.
Mr. AlAwadhi also showcased InvestGB's achievements since its establishment in 2023, noting a series of successes that have solidified its position as a leading company in the investment sector. These achievements complement Gulf Bank's accomplishments in investment services and represent a noticeable leap in providing innovative investment solutions for their clients.
He added: "Partnerships with leading firms including Investcorp, Avaloq, and Ares Wealth Management Solutions have provided clients access to diversified real estate portfolios, advanced digital platforms for wealth management, and top-tier alternative investment products. These achievements reflect InvestGB's commitment to driving growth, supporting the investment sector in Kuwait, and delivering exceptional value to its clients."
A Reflection of Our Commitment to Client Investment Goals
From his end, Mr. AlAli, stated: 'We are proud to announce the launch of the Lulwa KD Money Market Fund According to Islamic Shariah Principles, with the appointment of Gulf Bank as the selling agent. This reflects the commitment of both Gulf Bank and InvestGB to meet the banking and investment needs of their clients, aligned with our strategy to focus on wealth management for individuals. We always strive to provide financial solutions that offer our clients competitive returns with flexibility in managing their funds.'
Lulwa KD Money Market Fund: Sharia-Compliant Investment with Competitive Returns and Flexible Liquidity
Mr. AlKhamis stated: 'The Lulwa KD Money Market Fund is specifically designed to comply with Islamic Sharia principles, making it an ideal choice for clients seeking investments aligned with Sharia standards while aiming for attractive returns. The fund offers weekly liquidity, allowing investors flexibility in managing their funds.'
Al-Khamis stated: "The Lulwa KD Money Market Fund is a variable investment fund with a capital ranging from a minimum of 2,000,000 Kuwaiti Dinars to a maximum of KD500,000,000 Kuwaiti Dinars. The fund is open to subscription by individuals, whether Kuwaiti or non-Kuwaiti, residents or non-residents, as well as Kuwaiti, GCC, and foreign companies and institutions both inside and outside Kuwait'.
He further added: 'The fund will invest in deposits with banks and high-quality, low-risk short-term Sukuk issued by GCC governments, as well as corporate sukuk, government treasury instruments, or banks all in compliance with Islamic Sharia principles. We are committed to providing a seamless and comprehensive investment experience for our clients while ensuring their financial goals are met with the highest standards of quality and transparency.'
Clients can subscribe to the fund and review the subscription prospectus, the fund's articles of association, and all other details by visiting any Gulf Bank branch, as it acts as the subscription agent, or through the headquarters of "InvestGB" located in Al Hamra Tower.
About InvestGB
InvestGB, a Kuwaiti closed joint-stock company with a capital of 10 million Kuwaiti Dinars, is a leading provider of wealth and asset management, investments, and advisory services for high-net-worth individuals and institutional clients. Guided by a team of seasoned investment professionals, InvestGB upholds the highest ethical standards and is committed to fostering strategic partnerships to strengthen Kuwait's position as a top business destination for foreign investors. For more information, please visit www.investgb.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
19 hours ago
- Al Etihad
Binance's Sharia Earn marks a big milestone in Islamic and crypto finance
20 July 2025 14:39 A. SREENIVASA REDDY (ABU DHABI) Binance, the world's largest cryptocurrency exchange by trading volume, has launched Sharia Earn, the world's first Shariah-compliant multi-token staking solution—marking a major milestone in expanding ethical crypto investing for the global Muslim product, now live on the Binance platform, has been certified as fully compliant with Islamic finance principles by Amanie Advisors, a globally recognised Shariah advisory certification, signed by leading Islamic finance scholar Dr. Mohd Daud Bakar, confirms that the structure of Sharia Earn adheres to key tenets of Islamic jurisprudence, including the prohibition of interest (riba), excessive uncertainty (gharar), and involvement in non-halal industries such as alcohol, gambling, and adult content. In a statement published on its website, Binance said the launch underscores its commitment to financial inclusion and innovation aligned with ethical launch marks Binance's first foray into the Islamic finance space, and it comes at a time when interest in halal investing is growing. The Islamic finance sector is estimated to exceed $4 trillion globally, yet much of the Muslim community has remained hesitant to enter the decentralised finance (DeFi) space due to concerns over Shariah Earn operates under a Wakala structure, a Shariah-compliant agency agreement, whereby Binance acts as a representative (wakeel) for users and manages their assets for the purpose of generating halal digital assets and protocols deemed compliant by Shariah scholars are included. Binance noted that all protocols are subject to rigorous screening and ongoing monitoring to ensure continued alignment with Islamic Sharia Earn supports staking in three major crypto assets: Binance Coin (BNB), Ethereum (ETH), and Solana (SOL).Users who stake ETH and SOL will receive tokenised versions—WBETH and BNSOL, respectively—whose values increase over time to reflect the staking rewards generated on-chain. These wrapped tokens can be redeemed at any time for the equivalent underlying BNB staking, users receive daily rewards deposited directly into their spot wallets. Unlike simply purchasing and holding crypto tokens, staking involves locking up these assets on the blockchain to support network operations—such as transaction validation—while earning rewards in generated through Sharia Earn are derived from halal staking activities on blockchain networks. To reflect Islamic finance norms, Binance uses the term 'Rate of Return' (ROR) instead of Annual Percentage Rate (APR) when presenting expected returns, which are benchmarked against market-based staking rates and reviewed by qualified Shariah scholars.'This is more than a product – it's a movement toward a more principled and equitable digital economy that promotes financial freedom for all,' said Richard Teng, CEO of Binance. 'With this product we're empowering the Muslim community and Shariah-focused investors to participate in one of the most exciting financial revolutions of our time.'Samer Mardini, Chief Investment Officer at a family office in Dubai, welcomed the initiative. 'It is a great and much needed innovation that finally gives Muslim investors a meaningful way to engage with the crypto space without compromising their beliefs,' he said. 'The adoption of the Wakāla (agency) structure is consistent with classical Islamic financial principles, offering a framework that facilitates halal participation in crypto-based returns.'Mardini added that while the present certification is a strong step forward, 'further endorsement from standard-setting bodies such as the AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) would add significant weight and global credibility.' He noted that AAOIFI's widely recognised standards would enhance institutional confidence and help standardise Shariah-compliant crypto this sentiment, Irina Heaver, Dubai-based crypto lawyer and founder of said: 'Muslims have hesitated to enter crypto or DeFi space due to faith-related uncertainty. Binance's Sharia Earn product—backed by respected Islamic scholars—is a brilliant move that shows respect for local values while opening access to DeFi in a compliant, inclusive way.'Heaver also underlined the strategic significance of the launch for the UAE's ambitions: 'Binance, headquartered in Dubai, understands this deeply—both culturally and commercially. By launching Sharia Earn, they didn't just seize a market opportunity—they aligned with the UAE's broader vision. It's a smart, strategic move that supports ethical finance, financial inclusion, and cements Dubai's position as a global Islamic fintech hub.'According to Binance, the product is initially available in over 35 countries, including key Islamic finance markets such as the UAE, Saudi Arabia, Egypt, Pakistan, Indonesia, Turkey, and several Central and South Asian nations. The exchange also confirmed plans to extend availability to additional jurisdictions in the near said the introduction of Sharia Earn is part of a broader effort to build an inclusive, values-based digital finance ecosystem that empowers users of all faiths. 'Every component—from reward generation to asset selection—has been carefully tailored to remain compliant with Islamic principles,' the company stated.'Whether driven by faith or a desire for ethical crypto growth, Sharia Earn provides a trusted and transparent gateway into digital finance.' (Disclaimer: The article does not constitute financial advice. Readers should consult a licensed professional before making investment decisions) Source: Aletihad - Abu Dhabi
Arabian Post
3 days ago
- Arabian Post
Salama Joins Digital Push for Wider Takaful Reach
Salama has partnered with digital insurance broker Policybazaar. ae to expand access to Life Takaful coverage in the UAE, aiming to bridge protection gaps through a fully Shariah-compliant digital platform. The move brings Salama's suite of Takaful life insurance products to Policybazaar. ae's online marketplace, a platform already known for simplifying access to financial services through regulatory-compliant digital tools. This collaboration is being positioned as a strategic leap toward broader financial inclusion and enhanced customer convenience, targeting families across the country who seek transparent and ethical insurance solutions. The partnership reflects a growing convergence between traditional Takaful providers and the fintech-driven distribution model reshaping the insurance industry. With an increasing number of UAE residents looking to secure long-term family welfare through ethical financial instruments, demand for digital-first life coverage has grown sharply. ADVERTISEMENT Rakesh Sudhakaran, chief commercial officer of Salama, described the initiative as a defining moment in the company's vision to modernise Takaful offerings without compromising on core principles. He emphasised that the alignment with Policybazaar. ae supports the company's drive to serve a younger, tech-savvy customer base seeking purpose-driven protection. The announcement follows a wave of reforms and digitisation drives in the insurance sector under the oversight of the Central Bank of the UAE, which now regulates the industry. The regulator has encouraged the adoption of InsurTech to improve operational efficiency, enhance consumer access, and uphold prudential norms. In this context, Salama's collaboration with a digital-first platform like Policybazaar. ae fits within the broader policy direction to scale up inclusive and digital insurance solutions. Policybazaar. ae, a UAE-regulated platform licensed by the Insurance Authority and the Telecommunications and Digital Government Regulatory Authority, has become a prominent digital aggregator, catering to customers seeking transparent comparisons and paperless policy issuance. Its tie-up with Salama brings Life Takaful products — designed with ethical investing principles and community-based risk sharing — into sharper focus within an evolving insurance landscape. The UAE has witnessed strong momentum in the Takaful segment, especially in the aftermath of the COVID-19 pandemic, which drove greater awareness about the need for robust family protection instruments. Salama, established in 1979 and recognised as one of the longest-operating Takaful providers globally, is leveraging its legacy to tap into shifting consumer preferences that now favour digital accessibility alongside traditional values. The Life Takaful market in the UAE remains significantly underpenetrated compared to general insurance. Industry observers note that one of the primary barriers has been the absence of easily accessible, tailored plans that reflect customers' religious and ethical beliefs while meeting modern expectations for convenience. This gap has prompted providers like Salama to seek partnerships with digitally native brokers to enhance market coverage. ADVERTISEMENT The partnership also highlights a key trend in the insurance sector: the migration of conventional insurers and Takaful operators toward digital transformation strategies. Platforms like Policybazaar. ae enable insurers to reach a wider demographic without the constraints of legacy distribution networks, offering scalability and faster turnaround times. As the UAE pushes toward becoming a digitally enabled economy, insurance players are recalibrating their models to align with national objectives. Salama's focus on embedding Life Takaful within digital ecosystems is aligned with this strategic orientation. Through a structured and compliant digital platform, customers will be able to access various Takaful solutions, submit applications online, and receive policy documents digitally, reducing administrative burdens and improving customer experience. Although Policybazaar. ae has collaborated with multiple insurers, this partnership with Salama marks a significant step in expanding Shariah-compliant offerings. The two entities plan to jointly develop awareness campaigns and financial literacy initiatives aimed at increasing consumer understanding of Life Takaful benefits and addressing prevailing misconceptions that have historically limited adoption. Salama's approach combines community-based protection principles with a firm commitment to innovation, reflecting its adaptability to changing market dynamics. The company continues to refine its offerings, with an emphasis on transparency, competitive pricing, and customer empowerment. By embedding these principles into a digital distribution framework, the firm is actively positioning itself as a modern Takaful leader. The UAE's demographic profile, comprising a young, digitally oriented population, further strengthens the rationale behind the digital push. As financial services become more integrated with mobile-first platforms and on-demand services, customer expectations have shifted decisively toward seamless digital onboarding, policy management, and claims processing — all areas that the Salama-Policybazaar. ae partnership aims to address.
Zawya
4 days ago
- Zawya
ICIEC and Al Baraka Islamic Bank BSC Bahrain sign documentary credit insurance policy
Jeddah – The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah-based multilateral insurer and member of the Islamic Development Bank Group, and Al Baraka Islamic Bank BSC Bahrain signed a Documentary Credit Insurance Policy (DCIP). The policy aims to strengthen support for Shariah-compliant trade finance, enabling greater security and confidence in the international trade ecosystem. The agreement was signed by Dr. Khalid Khalafalla, Chief Executive Officer of ICIEC, and Dr. Adel Salem, Chief Executive Officer of Al Baraka Islamic Bank BSC Bahrain, in a joint effort to enhance the capacity of Islamic financial institutions to manage trade-related risks more effectively. Under this partnership, ICIEC will provide insurance coverage for the confirmation of Letters of Credit (LCs) issued by Al Baraka Islamic Bank in connection with the import and export of eligible Shariah-compliant goods and services. This solution will help mitigate payment risks associated with cross-border trade while promoting sustainable growth in ICIEC's member states. Dr. Khalid Khalafalla, CEO of ICIEC, stated: ' This strategic collaboration with Al Baraka Islamic Bank reflects ICIEC's unwavering commitment to advancing intra-OIC trade and investment. By supporting Shariah-compliant trade finance through our Documentary Credit Insurance Policy, we are facilitating secure trade flows while empowering Islamic banks to broaden their offerings to clients. This partnership demonstrates the power of multilateral cooperation in achieving shared development goals.' For his part, Dr. Adel Salem, CEO of Al Baraka Islamic Bank BSC Bahrain, stated: ' We are delighted to partner with ICIEC on this pioneering Credit Insurance Policy, which empowers us to extend Shariah‑compliant trade finance to our clients, bolster Bahrain's role as a regional hub for Islamic banking, and stimulate sustainable economic growth across member states worldwide. This collaboration underscores our unwavering commitment to innovation and robust risk management, giving the businesses we serve greater confidence to expand in global markets.' The DCIP serves as a vital tool for Islamic banks, enhancing their ability to expand trade finance operations with reduced exposure to commercial and political risks. The policy also complements ICIEC's broader mandate to promote economic resilience, financial inclusion, and private sector development in member countries. Both institutions reaffirmed their shared dedication to expanding the reach of Islamic finance, strengthening risk mitigation tools, and contributing to inclusive and sustainable economic development. About The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC): As a member of 'AAA' rated Islamic Development Bank (IsDB), ICIEC commenced operations in 1994 to strengthen economic relations between OIC Member States and promote intra-OIC trade and investments by providing risk mitigation tools and financial solutions. The Corporation is the only Islamic multilateral insurer in the world. It has led from the front in delivering a comprehensive suite of solutions to companies and parties in its 50 Member States. ICIEC, for the 17th consecutive year, maintained an "Aa3" insurance financial strength credit rating from Moody's, ranking the Corporation among the top of the Credit and Political Risk Insurance (CPRI) Industry. Additionally, S&P has reaffirmed ICIEC 'AA-' long-term Issuer Credit and Financial Strength Rating for the second year with Stable Outlook. ICIEC's resilience is underpinned by its sound underwriting, global reinsurance network, and strong risk management policies. Cumulatively, ICIEC has insured more than USD 121 billion in trade and investment. ICIEC activities are directed to several sectors - energy, manufacturing, infrastructure, healthcare, and agriculture. About Al Baraka Islamic Bank BSC Al Baraka Islamic Bank (AIB) is one of leading financial institutions in the Islamic banking sector within Bahrain. Throughout its history of more than four decades (since its establishment in 1984), the Bank has played a prominent role in building the infrastructure of the Islamic finance industry. The Bank also played a significant role in promoting the Islamic finance industry and publicizing its merits. AIB offers innovative financial products, including investments, international trading, management of short-term liquidity and consumer financing, all of which are all based on Islamic financing modes. Such financing includes Murabaha, Wakala, Istisna, Musharaka, Mudarabah, Salam, and Ijara Muntahia Bittamleek. Media Contacts: ICIEC: Email: ICIEC-Communication@ Website: Follow us on: X | Facebook | LinkedIn | YouTube | Instagram Al Baraka Islamic Bank BSC: Email: marketing@ Website:
