The National Bank of Abu Dhabi (NBAD) has launched the NBAD Shariah MENA Dividend Leader Fund which invests in select dividend-paying companies traded on the most promising MENA equities markets.

The Fund is modeled after NBAD MENA Dividend Leader Fund (MDL). "Inspired by the success of NBAD MENA Dividend Fund, we designed a comparable product for investors who are interested in Shari'a-compliant investment," says Saleem Khokhar, head of equities at NBAD's asset management group. "NBAD Shariah MENA Dividend Leader Fund allows investors to tap into the best opportunities across several markets and it is another vehicle of diversification for clients.

NBAD Shariah MENA Dividend Leader Fund allows investors to tap into strong, dividend-paying companies that have the potential to deliver attractive and consistent levels of income with opportunity for capital appreciation. It would invest in bourses of Saudi Arabia, UAE, Qatar, Oman, Kuwait, Egypt, Jordan, Morocco and Tunisia.

The Fund is actively managed by the equity desk of NBAD's asset management group.

NBAD Shariah MENA Dividend Leader Fund is UCITS IV compliant - regulated by the Central Bank of Ireland. Northern Trust Group, a reputed service provider, acts as the Fund's administrator and custodian.