Qatar’s QIC and QInvest to set up Islamic asset management company

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Qatar Insurance Company (QIC) and QInvest, a leading investment bank in Qatar, announced that they are joining forces to create a Qatar-based national champion in the Islamic asset management space.

The new company, jointly owned by QIC and QInvest, will be a Sharia-compliant entity regulated by the Qatar Financial Center Regulatory Authority (QFCRA).

Epicure Investment Management (EIM), a wholly-owned subsidiary of QIC, which manages more than $7 billion in investment assets across all asset classes for its clients, will provide the asset management capabilities needed to the joint venture entity, while QInvest will provide the necessary infrastructure and market reach to the joint venture entity, capitalizing on its track record in developing and structuring innovative Islamic investment products, in addition to its ability to raise capital.

The transaction remains subject to relevant corporate and regulatory approvals.

The two parties will work together to complete the transaction during the second quarter (Q2) of 2022, according to a joint statement.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).

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