Kuwait-based Asiya Investments has launched an Islamic trade finance fund worth US$20 million in seed capital, which aims at small Asian manufacturers.
Asiya’s fund aims for a net return to investors of above 5.0% and it has US$55 million worth of assets in the pipeline, with capacity for approximately US$400 million, said Brian Luck, director of Asiya’s advisory office in Dubai.
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Sulaiman Alireza, executive director of Asiya’s investment management arm in Hong Kong, said: "We engage those companies that are already banked but whose credit lines are limited – we are complementing their financing."
According to Asiya estimates, current annual intra-Asia trade of US$5 trillion could reach US$20 trillion by 2020.
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