Abu Dhabi Exchange Lists First Shariah-Compliant Gulf Fund
Shamira Salactic Gulf Shariah Dividend Fund has been listed on the Abu Dhabi Securities Exchange, becoming the fourth fund to be listed since the beginning of the year. It is the first of its kind that tracks the performance of Gulf companies compliant with Shariah, which provide regular cash dividends. The fund focuses on companies with strong financial performance, and its index reflects the performance of firms with a total market value of $1.49 trillion, with a benchmark dividend yield of 6.2%. The listing aims to diversify investment opportunities and support the income-generating product ecosystem in the market.
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