Sukuk-Focused Amana Participation Fund Attracts $100 Million in Assets

“Saturna Capital Corporation (Saturna), adviser to the Amana Mutual Funds, announced that the Amana Participation Fund (AMAPX, AMIPX), which invests primarily in income-producing securities called sukuk, has surpassed a milestone $100 million in assets. To ensure the Amana Funds’ investments meet the requirements of the Islamic faith, Saturna Capital engages Amanie Advisors Sdn Bhd, a leading consultant specializing in Islamic finance.”

DIEDC, accounting body sign MoU to collaborate on Islamic finance

“Dubai Islamic Economy Development Centre (DIEDC) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) have signed a memorandum of understanding (MoU) to explore the latest developments, risks and challenges in Islamic finance. Under the agreement, the two parties aim to conduct joint capacity-building programmes related to the Accounting and Auditing Organization for Islamic Financial Institutions standards in various jurisdictions, especially in markets new to Islamic banking and finance.”