Shanta Amanah Shariah Fund approved

The Bangladesh Securities and Exchange Commission has approved a draft prospectus of Shanta Amanah Shariah Fund, an open-end mutual fund, during a meeting at its office on Tuesday.

The initial size of the fund will be Tk 30 crore. The sponsor will contribute Tk 3 crore and the remaining Tk 27 crore will be collected through selling the mutual fund units. The offer price of the units of Shanta Amanah Shariah Fund will be Tk 10 each. Shanta Asset Management Limited is the sponsor and fund manager of Shanta Amanah Shariah Fund. The Investment Corporation of Bangladesh is working as the trustee and custodian of the fund.