Another Sukuk fund

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Qatar Islamic Bank is jumping into the sukuk-fund game, joining four other regional contestants in the as-yet-pretty-small field. Despite the growing popularity of Islamic finance, the largest Islamic bond fund in the region has $24m in assets under management (it's run by Algebra Capital in Dubai), according to Zawya.com's funds monitor. QIB's new fund is to be run "through a platform set up through its London-based affiliate European Finance House," according to a Zawya Dow Jones report. No word yet on how much money the fund expects to raise.

Regional sukuk funds (ranked by assets, per Zawya):

1. The Sukuk Fund, Algebra Capital, $24m.
2. Jadwa Global Sukuk Fund, Jadwa Investment, $15.1m.
3. Falcom Sukuk Fund, Falcom Financial Services, $14.6m
4. IIAB Sukuk and Murabaha MENA Fund, Al Arabi Investment Group, $8.1m