IDLC Asset Management Shariah Fund approved

The Bangladesh Securities and Exchange Commission approved a draft prospectus of IDLC Asset Management Shariah Fund, an open-end mutual fund, on Tuesday.

The initial size of the fund will be Tk 50 crore. The sponsor will contribute Tk 5 crore and the remaining Tk 45 crore will be collected by selling the mutual fund units. The offer price of the units will be Tk 10 each.