Salama, the largest takaful and re-takaful group, has tied up with BNP Paribas Investment Partners to offer its Islamic fund, the Global Equity Optimizer, with investor returns linked to Shariah-compliant global equity markets.

The fund uses an actively managed optimisation strategy which has consistently outperformed the global benchmark, the Dow Jones Islamic Market Titans 100 Index, according to a report in the Emirates Business.

Noel D'Mello, the Head of Family Takaful at Salama, said: "…. (we) entered into several tactical tie-ups with renowned Islamic fund investment companies and distributor alliances to spread Shariah-compliant savings and insurance products within the UAE."

Muneer Fulayfil, Director for the Middle East and Africa of BNP Paribas Investment Partners, said: "We are committed to the development of local products and Islamic funds."