Kuwait Investment Authority (KIA) is planning to boost its shariah compliant investments. The KIA already abides by ‘moral’ investments and ethically does not invest in alcohol production or porography based companies.
“Returns from Islamic financial activities are currently very high due to the growth of the islamic banking industry and the issue of sukuks (Islamic bonds),”
- Bader al-Saad, Head of Kuwait Investment Authority
As of March 31, 2007 the KIA had $213 billion assets under management.
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