VOL. XL
No. 23
9-June-1997
ISLAMIC BANKING
ANZ Launches Islamic Investment Fund
ANZ Investment Bank announced on 5 June the launch of its First ANZInternational Modaraba fund (FAIM), a $100mn close-ended Islamic investment fund.ANZ-Grindlays Bank and the International Finance Corporation are lead investors, investing$5mn each. Guernsey-based ANZ Management Company will act as manager and London-based ANZInvestment Bank will act as investment adviser. The fund, which will be incorporated in...
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