DVK Group, the British commodity investment firm had agreed to enter into a partnership with a member of the Qatari royal family to launch a US$500 million Shariah compliant fund for women.
Previously, the London based trading and finance firm had in 2012 also set up a similar fund with a member of the Saudi royal family. The royal was installed as a non-executive chairman with plans to expand to target not only projects in the Gulf region but also in China, Russia and Northern Africa.
DVK Group Founder and Chairman Deepak Kuntawala said it was in final talks for the establishment of a Shariah investment fund for female business leaders in the Middle East. The said fund would be launced after the Ramadhan, which ends by the middle of August.
In an interview with Arabian Business last February, Kuntawala said, "There has been a lot of discussion around developing an investment vehicle to enable women in the Islamic GCC regions to have the opportunity to invest and do something with their capital."
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