Dar Al Takaful, a Dubai-based Islamic insurance company, said it has opened a new managed investment account with Daman Investment, a private joint stock company.

Saleh Al Hashmi, managing sirector of Dar Al Takaful, said:  “Daman Investments is one of the most venerable companies in the Mena Investment Arena and this is the start of a mutually beneficial business relationship”.

Shehab Gargash, managing director of Daman Investments, said: “Dar Al Takaful is one of the most respected Islamic insurance companies and opening this new managed account is a great token of confidence in our abilities to manage money in the vibrant UAE economy.’

Dar Al Takaful’s account will be managed under a shariah compliant investment mandate, added Gargash. - TradeArabia News Service