First Fund Launched Under Digital AMC Framework of SECP

Mahaana Wealth has launched Pakistan’s first fixed-income Islamic fund under the Securities and Exchange Commission of Pakistan’s (SECP) Digital Asset Management Company (AMC) framework.

The launch of this fund marks a major milestone in Pakistan’s financial landscape, as the first digital asset management company goes live in the country. The fund will be offered to a limited number of clients till commercial launch is allowed by SECP.

This Shariah-compliant Money Market fund offers a secure and stable investment option that aims to provide investors with a potential profit rate of up to 20 percent, which is significantly higher than the profit rates currently offered by Islamic banks in Pakistan, hovering around 8-10 percent.

CIO, Mahaana Wealth, Mubashir Zuberi, said “We strive to provide higher savings & investments return to retail investors, which were previously available only to the high-net-worth individuals.”

Mahaana Wealth has partnered with IT Minds, a leading provider of technology solutions in Pakistan and a subsidiary of CDC Pakistan, to deliver a comprehensive and streamlined solution for its back-office operations.

Commenting on the launch, Mahaana Wealth CEO, Muhammad Shamoon Tariq, said, “Our vision is to create a seamless digital investment experience that is both accessible and affordable for all Pakistanis. We believe that everyone should have access to the same investment opportunities, regardless of their location, income, or financial knowledge. With this launch, we aim to revolutionize the asset management industry in Pakistan by offering a comprehensive, automated, and user-friendly platform to investors.” He added, “I would also like to commend SECP’s role as a front-end regulator, which is continuously working in improving the regulations and frameworks for promoting the Asset Management industry in Pakistan”.

Fixed-income funds can serve as a vital financial tool for creating a social safety net for individuals and their loved ones, especially in the face of uncertainty. This steady stream of income can help families cover essential expenses during periods of unemployment or financial instability. By allocating a portion of their savings into Shariah-compliant fixed-income funds, individuals can work towards building a financial cushion that provides a sense of security and resilience in times of economic hardship.

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