UCB Asset Management holds its first Shariah board meet
The first Shariah Supervisory Board meeting of UCB Taqwa Growth Fund was held at the HQ of UCB Asset Management Ltd, Bulu's Centre, Gulshan, Dhaka recently.
The Supervisory Board was formed with the help of Islamic scholars and industry veterans, reads a press release.
UCB Asset Management launched its first Shariah-compliant product, UCB Taqwa Growth Fund in April 2022, with an initial size of Tk35 crore to generate superior risk-adjusted returns over different market cycles by adhering to Shariah Principles.
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Reputed Islamic financial organizations of the country have participated in the initial public subscription of this fund, along with a number of retail investors.
The Chairman of the board Professor Dr Md. Abdur Rashid (Professor, Dept of Islamic Studies, University of Dhaka), Professor Dr K M Saiful Islam Khan (Professor, Persian Language and Literature, University of Dhaka); Dr Mohammad Zahidul Islam (Associate Professor, Dept. of Islamic Studies, University of Dhaka); Dr Syed Muhammad Emdad Uddin (Senior Imam Khatib, University Central Mosque, University of Dhaka) and Shekh Mohammad Rashedul Hasan, Managing Director and CEO of UCB Asset Management Ltd; ATM Tahmiduzzaman, DMD and Company Secretary of United Commercial Bank Ltd and S M Samiuzzaman, Portfolio Manager of UCB Asset Management were present during this auspicious occasion
