KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) and Al Ameen Funds have signed an Islamic Mutual Funds agreement.
DIBPL is a wholly-owned subsidiary of Dubai Islamic Bank UAE, world’s first Islamic Bank. UBL Fund Managers Limited is one of the leading Asset Management company in Pakistan.
The signing ceremony was held at DIBPL Head Office Karachi in the presence of senior officials from both organisations including Mir Muhammad Ali (CEO UBL Fund Managers), Junaid Ahmed, (CEO DIBPL), and Khawaja Asif (Head of Consumer Banking DIBPL).
Speaking on the occasion, Junaid Ahmed (CEO – DIBPL) said, “This is one of the most important initiatives of this year, as DIBPL is privileged to be the first Islamic Bank in the industry to enter this strategic business alliance with Al Ameen Funds. This business venture will surely benefit both DIBPL & Al Ameen Funds as this collaboration will improve DIBPLs market leading footprint and help to further grow its share in Pakistan’s Asset Management Industry”.
Mir Muhammad Ali, CFA (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 Bank 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”.
