Azzad Asset Management Participates in U.S.-Saudi Investment Forum
Sponsor of the Azzad Funds signs memorandum of understanding with Al-Bassam Investment Group
WASHINGTON, Sept. 4, 2015 /PRNewswire/ -- A delegation from Azzad Asset Management joined representatives from the Saudi Arabian and U.S. business communities in Washington, D.C., for a conference designed to foster trade ties between the two nations. Azzad, a leader in socially responsible halal investing in the United States, has investments in Saudi Arabia through its international fixed-income fund.
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The U.S.-Saudi Investment Forum, organized by the Saudi Arabian General Investment Authority in conjunction with the Council of Saudi Chambers and the U.S.-Saudi Business Council, served as an opportunity for executives and officials to explore investments in energy, transportation, health, education, and financial services. Signing ceremonies between U.S. and Saudi businesses were a feature of the event.
"As an interested party that has found ample investment opportunities in the Kingdom of Saudi Arabia, Azzad is pleased to take part in this important gathering of dignitaries and captains of industry," said Azzad President and CEO Bashar Qasem, who attended the conference.
During a morning session, Mr. Qasem signed a memorandum of understanding with Ziad Al-Bassam of the Al-Bassam Investment Group, to formalize an agreement between Azzad and Al-Bassam to share financial expertise and to locate investment opportunities in the Middle East.
Azzad is the sponsor of the Azzad Wise Capital Fund, the first halal alternative fixed income mutual fund in the United States. The fund invests in financial instruments called sukuk, which are an increasingly popular financing tool in the Middle East, especially Saudi Arabia.
According to the memorandum, Azzad would benefit from Al-Bassam's ability to source quality investment opportunities in the sukuk market to further the Fund's objective of providing long-term fixed income and capital preservation. The Azzad Wise Capital Fund aims to produce a return that is comparable to short-term bond funds and other financial instruments, without dealing in interest.
The one-day conference was held at the Ritz-Carlton Washington, D.C., on the sidelines of the visit to the United States by Saudi Arabia's King Salman bin Abdulaziz Al Saud. Session topics included fostering an attractive investment climate in Saudi Arabia and trends and opportunities in the financial services sector.
ABOUT AZZAD
Azzad Asset Management, investment advisor to the Azzad Funds, is committed to providing investment services designed to help people enjoy optimum performance without compromising their values. Azzad is a member of the Forum for Sustainable and Responsible Investment, the Interfaith Center on Corporate Responsibility, and the Accounting and Auditing Organization for Islamic Financial Institutions. The firm, based outside Washington, D.C., is a registered investment advisor with the U.S. Securities and Exchange Commission.
Please consider a Fund's objectives, risks, charges and expenses carefully before you invest. The prospectus contains this and other important information. For a hard copy, please call 1-888-350-3369. Read the prospectus carefully before investing or sending money. The Azzad Funds are self-distributed. Azzad Asset Management serves as investment advisor.
SOURCE Azzad Asset Management
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