Salama ties up with BNP Paribas for Islamic fund

Emirates Business 24/7:Salama, the largest takaful and re-takaful group, has tied up with BNP Paribas Investment Partners to offer its Islamic fund, the Global Equity Optimizer, with investor returns linked to Shariah-compliant global equity markets.

The fund uses an actively managed optimisation strategy which has consistently outperformed the global benchmark, the Dow Jones Islamic Market Titans 100 Index.

Noel D'Mello, the Head of Family Takaful at Salama, said: "…. (we) entered into several tactical tie-ups with renowned Islamic fund investment companies and distributor alliances to spread Shariah-compliant savings and insurance products within the UAE."

Muneer Fulayfil, Director for the Middle East and Africa of BNP Paribas Investment Partners, said: "We are committed to the development of local products and Islamic funds.