Fund Details: Named India Fund Custodian: Kuwait Clearing Company Objectives: To invest the capital in favor of those who are interested of the Kuwaiti, GCC citizens and the expatriates as natural and juridical persons according to the law in the field of selling and buying securities of companies listed in the Indian Capital Markets; and also to enter into IPOs for the companies expected to be listed in these markets as deemed by the Fund's Manager, in accordance with the rules and conditions mentioned in the Articles of Association and the Islamic Sharia controls approved by the Fund's Sharia Audit. Capital: The Fund's capital is variable and ranging between KD5,000,000 (five millions Kuwaiti dinars) as minimum distributed on five million units and the amount of KD50,000,000 (fifty million Kuwaiti dinars) distributed on fifty million units. Minimum and Maximum Subscription: The number of subscribed units in which any of the fund's participants has participated may not be less than 1000 (one thousand units) and the maximum units that any participant in the fund may owns is 50% (fifty percent) of the number of fund's issued units. Subscription: Kuwaiti citizens, GCC citizens, expatiates, Kuwaiti and GCC companies, establishments and foreign companies residing inside and outside the State of Kuwait shall have the right to subscribe in the fund. Sharia Committee: The Fund carries on its activities and functions that do not contradict with the provisions of the Islamic Sharia rules that provided for by its article of association. Raqaba for Islamic Financial Consultations oversees the activities of the Fund and has the right at all times to have access to all contracts and transactions related to the management of the Fund.
Article of association
Audited Financial Statement 2014