Thndr announced their first Sharia-compliant fund, Misr Takaful Fund, in partnership with Misr Insurance and Arab African Investment Management.
The fund is a money market fund that offers daily subscriptions and daily redemption. It is considered a low-risk, liquid investment instrument. Investors enjoy compounded daily returns to ensure that they get the most flexibility out of their investment.
The fund invests in low-risk instruments, including up to 90% in Egyptian T-bills and 49% in Egyptian T-Bonds. It also has the flexibility to invest in other Shariah-compliant products after the Shariah Committee’s approval. The fund returns are also exempted from tax payments.
The fund is undergoing a subscription period that will end on 29/03/2022 at 4 pm, the minimum investment amount is EGP 1,000 during the subscription period. After the subscription closes, you can buy with as little as 1 certificate which is starting at EGP 100.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
