SHARJAH — Sharjah Islamic Bank (SIB) has signed a partnership deal with Daman Securities. This new partnership is aimed at actively managing the trading of local and international equity funds. This is the second such deal entered into by the bank, following their recent partnership deal with Shuaa Capital, and is part of SIB's ongoing commitment to the expansion of investment opportunities and diversification of risk.
The purpose of this partnership deal is to create new and innovative ways of profit making, distinct from regular investment opportunities such as real estate and syndications, both locally and internationally, and will abide by the laws and regulations of the Islamic Sharia approved by the bank's Sharia Control and Fatwa Board.