Arab investors mull legal action over $516m fund

Posted by on Dez 10th, 2012 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Arab investors in a €400m (US$516m) French property fund operated by Dubai Islamic Bank (DIB) are seriously thinking about legal action because they have received neither any dividend nor audited financial statements on the fund's status for the last three years. The launch of the Al Rayyan II French Property Fund took place in 2005. It is managed by Qatar Islamic Bank (QIB) on behalf of DIB. The fund was used to invest in several income-producing properties in France. Initially, a yearly return of around 8% was given to the investors.

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