A new Shariah-focused independent wealth organisation called Mahal Thqa has been launched in Dubai.
The new wealth firm has been formed as a joint venture between Middle Eastern financial consultants Mondial and US-based venture capital organisation Shariah Capital, reported International Adviser.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Sadi Hassouneh, COO of Mondial, will lead the new wealth firm and will focus on the Middle East’s Arabic-speaking population.
The source reported that the new firm aims to offer independent Islamic investment solutions and fund alternatives.
Sean Kelleher, a board member and active adviser to Thqa, said: "Thqa’s investment approach will be based on protecting and growing its client’s capital over the medium-to-long-term and seeks to avoid the boom-and-bust results associated with specific asset class risk.
"We know that Thqa will need to prove itself by managing investor expectations into growing capital steadily through diversified and risk-adjusted asset allocation strategies. At a time when UAE property and MENA equities are on a surge this will be difficult."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
