KIB Invest launches Shariah-compliant money-market fund

Al Dawli Invest Investment Company (KIB Invest) has introduced its first investment product, the Al Dawli Invest Islamic KD Money Market Fund. The fund is aimed at investors seeking short-term, Shariah-compliant placements.  

The open-ended fund will hold highly liquid short- and medium-term Islamic money-market instruments and will offer weekly subscriptions and redemptions. According to the press release, KIB Invest's strategy focuses on capital preservation while delivering returns comparable to Islamic deposit products.  

Fee terms include no up-front or exit charges to help keep investor costs low.  

The firm plans to offer additional funds with varying risk and return profiles. A fund executive committee has been formed to oversee governance and performance.  

KIB Invest is a subsidiary of Kuwait International Bank and specialises in Shariah-compliant investment solutions. The firm said the new fund expands the group’s product set and gives clients a low-risk, high-liquidity option in Kuwaiti dinars.