Tue, Nov 05, 2024 | Jumada al-Awwal 4, 1446 | DXB ktweather icon0°C

SIB to partner with Daman Securities

Top Stories

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.

Published: Wed 4 May 2005, 10:58 AM

Updated: Thu 2 Apr 2015, 5:03 PM

  • By
  • A Staff Reporter

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.

“This is a great achievement for Sharjah Islamic Bank. Daman Securities is one of the leading financial investment companies in the region, with an excellent reputation, and we look forward to our partnership with them,” said Hussein Al Qemzi, Chief Executive Officer at Sharjah Islamic Bank.



Next Story