Dubai Islamic, Global set up $500m Islamic fund

DUBAI — Dubai Islamic Bank and Kuwait's Global Investment House have set up a $500 million Islamic buyout fund, the firms said in a joint statement on Wednesday.

"The Islamic buyout fund that both our institutions have created aims to become the leading Sharia-compliant investment fund in the region," Global's co-founder Maha Al Ghunaim said in a statement. The statement had no further details